On his aversion towards the stock market, Ramdev said that it is important for Patanjali to make a place in their customers' hearts.
Patanjali kickstarted the new year by foraying into the e-commerce platform and its founder Baba Ramdev has now decided to throw down the gauntlet to the firm's strongest competitor - Hindustan Unilever Limited (HUL)
A report in The Economic Times says that Patanjali is eyeing to overtake HUL's existing market presence.
"We have created capacity of Rs 50,000 crore and we are racing ahead now. Our target is to beat HUL by next year," Ramdev told the paper.
The report points that beating HUL's annual numbers will be difficult as HUL has been established firm for decades now. Patanjali's last year sales amounted to Rs 10,561 crore, amounting to one-third that of HUL's. HUL reported sales of Rs 34,487 crore.
Patanjali has partnered with Flipkart, Amazon and other e-tail majors to expand their market horizon. Till date, Patanjali;s products were present only in brick and mortar stores. "Online mechanism aims to provide convenient and efficient options along with extension of traditional retail market", Ramdev said.
On his aversion towards the stock market, Ramdev said that it is important for Patanjali to make a place in their customers' hearts. "We’ll not list Patanjali on the stock exchanges. We will list Patanjali in people’s hearts. We are transforming Patanjali into a non-profit organization," Ramdev told Mint.
However , with Patanjali aiming to be a Non-Profit Organisation and with its founder claiming to be against the 100 percent FDI norm, it is looking to boost its business by looking to tie up with foreign venture funds. Defending the foreign venture fund talks, Ramdev said, "We would not be partnering. If some one provides financial assistance at low interest rates, I have no objection."
Patanjali announced its plans of entering the textile business last year. In an interview with CNBC-TV18, Ramdev claimed that the garments will be on the shelves either by Diwali this year or by next year January. He also said that they will be producing footwear and bags, which will come under the textile retail brand.