Reliance Industries Limited’s (RIL) Retail division has been an enormous amount of growth during the past year. Many new outlets have been opened across India and serve as the only place for many people to shop in many locations in India. In urban areas, the Mukesh Ambani-owned Reliance Fresh chain has managed to garner significant interest from customers seeking specific products that aren’t available elsewhere.
It’s no surprise then that Gautam Thapar owned ‘Tify,’ a brand of gourmet processed food has been launched in the Indian market through Reliance Retail. ‘Tify’ is owned by the Global Green Group, a large processed food exporter whose revenues exceed $200 million. It’s part of the $4 Billion Avantha Group, a major player in the fruits and vegetables good processing industry.
Commenting on the brand launch, Vijai Gill, MD &CEO said, “We have built capacities, expertise and the knowhow in this segment and we have been closely working with almost all globally renowned retail chains for the past many years. Given that India is developing as a major destination of gourmet food, we have started to increase focus here.”
Restaurant and hospitality chains such as Subway, Dominos, and the Taj Group are some of its key customers. Gill says, “With the growth of quick service restaurants, there is a lot of demand for our range of offerings. As of now, the share of revenues from India is small, but we aim to have around 25 per cent over time,” Gill says. At the same time though, every brand entering the Indian market understands how critical it is to be present in the fast-growing retail segment. The segment is dominated by RIL owned Reliance Retail. Tify is present in RIL’s Reliance Retail with plans to expand reach to more of their outlets.
Global Green gained fame as the largest exporter of gherkins. Since then, they have extended their product range to include jalapenos, pearl onions, capers, pritamin peppers, sweet and sour cherries etc. The Indian consumer is not well aware of various cuisines and is willing to try out new cuisines from other cultures. This is where many analysts believe Tify has enormous potential due to its niche offerings. The company hopes to make in-roads into the gourmet food market valued at around Rupees 15,205 Crore.