Chennai, July 18: Health and wellness products brand MonaVie plans to set up its own manufacturing facility in Chennai. “We are in the process of identifying the location, which will more probably be at Sriperumbudur,” said Mr Raj Lingam, President (South Asia), MonaVie. According to him, it could be through a joint venture and would involve an investment of Rs 100 crore.
Mr Lingam said the market here is quite promising and “we are confident of setting up a facility as soon as we scale up our operations here”. MonaVie, a Jordan-based global brand, is a direct marketing company with presence in 23 countries with its largest base in the US. Its current India business is “on the verge of crossing Rs 100 crore”.
He said to expand its business in India, it has taken a conscious decision to customise and localise the product offerings to suit the Indian palate.
“We are collaborating with local food technologists, experts to explore new possibilities,” said Mr D. Guna, Managing Director, MonaVie India.
The company’s product portfolio includes protein powder, health juices, energy blends, weight-loss solutions. Currently, it outsources some of its products to local manufacturers in India.
Elaborating on the product it launched today, RVL Protein powder, Mr Guna said, contains high protein and does not contain cholesterol and lactose. Besides admissible levels of chromium and zinc (which helps in maintaining blood sugar levels), it contains low fat to refuel the body muscles and to provide energy.