Global prepaid service voucher firm Edenred is eyeing $200-million sales from India by this year-end, a top company official today said.
"We are hoping that our sales revenue in India will push close to $200 million by this December," Edenred India Managing Director and CEO Sandeep Banerjee said.
Edenred (formerly Accor Services) also plans to consolidate its existing nine products in India, which fall under the employee benefits and public benefits categories and rewards and loyalty solutions.
The firm, which has a total of 27 products globally, will introduce seven products in India in the next two-three years, Banerjee said.
Edenred, which has had a strong presence in Tier I cities for the last 13 years, now plans to focus on Tier II and III destinations, he said.
"We are currently looking at entering nine cities," Banerjee said.
"Under public benefits, we are in talks with four-five states for entering into the public distribution system (PDS), which will not only help the state governments keep track of the consumption pattern of below poverty line (BPL) families but also prevent any leakages," he said.
The vouchers for PDS will be colour-coded for wheat, rice, sugar and kerosene, making identification easier for those who cannot read or write. "We are hoping (use of) this PDS voucher will begin at least in one state by December this year," he said.