Vasu Agarbathies, a Mysore-based 60-year-old firm making agarbathies, is looking to move out of the pooja room, into household products like candles, mosquito coils and room fresheners. Vasu Agarbathies, launched by N Ranga Rao in 1949 and which took on an independent identity in 1984 and became popular with its Heritage and Vasu brands, commanding 20 per cent market share in Karnataka.
The company, in addition to the diversification, is set to encash on its real estate holdings with a 100,000 square feet commercial complex, by demolishing its 22,000 square feet office. Vasu Agarbathies is tying up with a retail chain for 50 per cent space in the new complex, while renting or leasing out the rest.
Besides providing indirect employment to 60,000 to 80,000 families, including preferred vendors and sub-contractors, Vasu has built a sales network of around 250 across India and over 40 of its brands, some 20-25 have been successful, Heritage emerging as one of the largest brands.
Its exports, which began in 1972, now cover over 30 countries including South America, Europe and Africa. Its incense sticks are used in at least a crore households. Thanks to the patronage of the erstwhile rulers of Mysore and abundant availability of raw material like sandalwood oil, agarbathies manufactured in Mysore are a household name even today in the country.
