Elder Healthcare today said it has tied up with Shree Maruti Herbals to sell the latter's herbal energy booster products and plans to launch more such items over the next two years.
Elder Health Care Ltd (EHCL), the FMCG arm of the Elder Pharma Group, has started marketing of Maruti Herbals' flagship product 'Stay ON'.
"EHCL has forayed into the fast growing Rs 150 crore herbal male energy booster market by virtue of a tie-up with Shree Maruti Herbals, herbal medicines maker," EHCL said in a statement.
With the availability of the product across India, the company said that it is expecting to double the sales to Rs 15 crore by 2013-14 and to Rs 50 crore by 2014-15.
"Our strong marketing and distribution network is encouraging us to launch brands - own or in-licensed - at a rapid pace as the distribution and supply logistics are already in place," EHCL Managing Director Anuj Saxena said.
The herbal energy booster supplement market is growing at 15% annually and the demand for the product mainly comes from males aged 25 and above across metros, it said.
"Going forward EHCL plans to introduce newer products in the herbal energy booster segment within the next 12-24 months," it added.
Other players in the sector include Dabur Shilajit, Baidyanath, Zydus Musli Vital and Musli Power.
