Radikal was founded in 2010 with a vision to be world\'s leading food company, serving health in different ways to suit the requirements of modern day consumer.
For more than half the population of India, rice is a staple food and a part of every meal. Radikal Overseas offers ‘Radikally’ pure and ‘Radikally’ fit grains to people of all ages and tastes, pan India. Talking about the scope of premium basmati rice in India, Siddharth Chaudhary, Managing Director, Radikal Overseas, tells us why high end basmati is good business.
What are your expansion plans in the future?
Radikal is among the top two (in volumes) in modern trade with presence across 2000 stores pan India and is moving aggressively in general trade as well with 110 distributors with the reach of approx. 1,00,000 kirana stores. On the export front, we have reached over 35 countries and hope to increase that number to 65 by end-2013. We have also recently started exporting into the European and far western countries and are eyeing a turnover of Rs 1,000 crore by 2014; the company’s revenue has gone up from Rs 350 crore in 2011-12 and Rs 558 crore 2012-13. We have stepped up capacity at our rice milling plant in Garh Mukhteshwar, UP, from an annual production capacity of 2,00,000 metric tons to 4,80,000 metric tons too.
Who is your target audience?
Radikal was founded in 2010 with a vision to be world's leading food company, serving health in different ways to suit and fulfil the requirements of every modern day consumer. Thus, our target audiences are primarily women who are educated, health conscious and want to offer a healthy product to their families. For her rice is not just a commodity but also a lifestyle product. Thus, to woo the consumers, product range of Radikal is well segmented and has an offering for every kind of palate that the Indian consumer today wants. Priced between MRP Rs 111 to Rs 170 per Kg, the range compromises of Aqua Mist Premium Basmati Rice: premium naturally aged basmati rice, Pristine Traditional Basmati Rice: exceptional taste with exotic aroma, Apica Premium Rice: rich in natural nutrients that make it the ultimate food for a healthy lifestyle and Morvarid Premium Sella Basmati Rice: low-fat balanced diet, rich in vitamins, minerals, fibre, antioxidants and phytochemicals. Retailed extensively, Radikal has tied up with all the major modern retails brands. To name a few: Reliance, Spencers, More, Big Bazaar, Vishal Mega Mart, Total and many more.
What is the USP of your product?
Sourced from the foothills of the Himalayas and other rice growing states of India, each grain of Radikal rice is handpicked, tested for quality and carefully processed to serve our customers with unmatched taste and to ensure a healthy and happy life. Today, Radikal is committed to produce premium basmati rice that enhances overall experience of indulgence with enhanced nutritive value that can inspire a healthy life. In a truly Radikal way, the rationale is to serve offerings of healthy rice and provide a wholesome and healthy culinary experience.
What marketing and promotional strategies are you using?
Recently, Radikal organised a big consumer connect program which no other rice brand ever planned, ‘Radikal Rice to Riches’. Through this, Radikal Rice touched approx. 500 RWAs across 8 cities and received an overwhelming response from approx. 2 lakh consumers. The participants had the opportunity to be featured on NDTV Good Times through a cooking competition. We plan to take this to more cities.