Elder Health Care today said it will enter the Sri Lankan market by next month with the launch of branded personal care products and is scouting for acquisitions in Europe as part of global expansion plans.
The Mumbai-based firm, which mainly sells in-licenced products, also plans to boost its own brands and will introduce about 5-6 products in the Indian market.
"Entering Sri Lanka is part of a global expansion strategy... The company has partnered with Sri Lanka's Ceylon and Foreign Trades PLC," Elder Health Care MD Anuj Saxena said in a statement.
He said under the partnership, the company will launch oral care, skin care and personal care products along with deodorants, soaps, mouth wash, rose water, face wash and fairness creams under its own brands.
Elder Health Care has oral care, personal care and skin care products under different brands, including Fairone, Tiger and AMPM, among others.
Saxena said the company "is also looking at some acquisitions to enter the European market".
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Apart from Sri Lanka, Elder Health Care also plans to enter Bangladesh, which is another lucrative market, he added.
He, however, did not provide further details on the Bangladesh plans.
On increasing the portfolio of Elder Health Care's own branded products, Saxena said: "As part of our next five year road-map, we plan to build our own brands rather than go for in-licenced products."
The company plans to launch about 5-6 of its own products by the end of this year, he added.
Based on this shift in strategy, the firm aims to have a 50:50 ratio between in-licenced products and owned brands in its portfolio over the next five years as against the present 90:10 ratio in favour of in-licenced products, he added.
The Mumbai-based firm is also looking to more than double its revenues in the next two years from Rs 114 crore in FY11 to Rs 300 crore by FY13, riding on the back of its expansion plans.