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Emami to set up unit in Dubai

BS Bureau

Calcutta-based Emami Ltd would be setting up its own manufacturing unit in Dubai in October. All the products of the company would be manufactured in the Dubai unit, which will entail an investment of Rs 70 million.

R S Agarwal, chairman, Emami, disclosed this at the launch of their latest product, Emami gold turmeric cream, in Calcutta on Tuesday.

The company has recorded exports worth Rs 120 million in the fiscal 2000-01 and expects to raise the level to Rs 200 million in the current fiscal. The company exports its products to countries such as Mauritius and Sri Lanka. It has plans to export to other European markets shortly.

With the launch of the new product, Emami eyes around 10 per cent share of the Rs 6.50 billion domestic cosmetic cream market.

Agarwal said the company consistently has had an annual growth of 50 per cent. It would launch more products in near future, of which the 'Madhuri range' is expected to be launched shortly.

Having invested to the tune of Rs 80 million for Emami gold turmeric cream, the company hopes to raise their share in the turmeric cream segment from the present 26 per cent to 40 per cent.

An advertisement budget of approximately Rs 100 million has been set aside for the promotion of the brand, which, the company claims, is the first one in the country to contain 24-carat gold as one of the ingredients. Along with the cream the company has formulated a gel, which contains higher doses of gold and herbs.

The company recently set up the Emami Ayur Science Research Foundation, which did the research work for the product.

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