Eastern Group to have 30 lakh retailers by 2020

Eastern commands more than 70% of the market share in Kerala

Eastern Group, one of the largest sellers of spice-based products in India, is now aiming to have 30 lakh retailers across the country by 2020. The company, which has the largest sales network through retailers, has crossed sales of Rs 650 crore during 2014-15. The company is setting up its tenth plant at Lucknow in Uttar Pradesh. Eastern will invest Rs 20 crore in the new facility, which is expected to go onstream within two years. The ninth plant, at Dharwad in Karnataka, would open sometime next year.

Firoz Meeran, managing director, said that the company aims to target 30 lakh retailers by 2020. "Our unique direct distribution model, servicing of retailers and quality of products has seen great acceptance across the country," he said.

In the second quarter of the current financial year ended September its revenue grew 21 per cent. The growth in sales outside Kerala was 48 per cent.

Exports grew 2 per cent in the quarter while continuing to grow its home market of Kerala by 17 per cent. This marks a record 10th consecutive quarter of uninterrupted quarter on quarter revenue growth, said FIroz Meeran.

The company has been awarded the largest exporter of spices title by Spices Board of India for the last 15 years consecutively. Eastern commands more than 70 per cent of the market share in Kerala.