Rapid Nutrition forays into India, to invest Rs 100cr

Eyes Rs 30 crore revenue in the current year and Rs 2,500 crore by 2017

Australia-based Rapid Nutrition today announced its entry into the Indian market with the launch of its weight loss programme 'Leisa's Secret' in the country.

The healthcare firm, which is present in India through a wholly owned subsidiary -- Rapid Nutrition India -- plans to invest Rs 100 crore in the country by October 2013.

"We will be investing Rs 100 crore in India in the next twelve months," Rapid Nutrition Chairman Simon St Ledger told reporters here.

While Rs 50 crore is being invested for acquiring various assets, including a manufacturing firm by March next year, the rest would be utilised for market penetration from March 2013 to October 2013, Ledger added.

 

As part of its weight loss programme, the company would be selling four products in the country.

The customers would be able to access weight loss products through a national toll free number.

"We would be able to produce the products here in India in the next six months to one year. Till then, the products would be shipped from Australia," Rapid Nutrition India and APAC CEO Amit Srivastava said.

Commenting on the revenue targets, Srivastava said the company is looking at Rs 30 crore in the current year and Rs 2,500 crore by 2017.

According to company estimates, the weight loss market in India is roughly pegged at Rs 9,500 crore per annum, which is likely to touch Rs 17,000 crore by 2015.

When asked about the weight reduction costs, Srivastava said, "A three month course for weight loss would cost around Rs 30,000."

Rapid Nutrition currently markets its weigh loss products in twelve countries.

In India, the company will roll out Leisa's Secret in a phased manner, starting with South India and later followed by other parts of the country.