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.
Gautam Thapar owned ‘Tify,’ a brand of gourmet processed food, has entered the Indian market with Reliance Retail. “Tify” is owned by the Global Green Group, a processed food exporter with revenues exceeding $200 million. It’s a part of the $4 Billion Avantha Group, a player in the fruits and vegetables good processing industry.
Commenting on the brand launch, Vijai Gill, MD &CEO, Tify, 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 Tify’s customers. Gill further added: “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 percent over time. 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 now present in RIL’s Reliance Retail with plans to expand reach to more of their outlets.”
Global Green claims to be famous as the largest exporter of gherkins. Since then, it has extended its product range to include jalapenos, pearl onions, capers, pritamin peppers, sweet and sour cherries, etc. According to the company officials, Tify hopes to make in-roads into the gourmet food market valued at around Rs 15,205 crore.
