- March 2, 2017 / 2 min readGodrej Group had invested Rs 65 crore in Nature's Basket last fiscal to support its growth plans.
Godrej Nature's Basket, which is aiming for sustainable profitable growth through omnichannel expansion over the next three to five years, has also put in place a new management team.
Tanya Dubash, Executive Director & Chief Brand Officer, Godrej Industries, said, "We are in the process of consolidating our business as you might know."
"We have got a new management in the beginning of this year, we also got Bain (& Company) to help us with the strategy and we are working strongly on that, we have identified new value proposition, we have got a good new senior management team," Dubash said.
She said the company would be "in a better position towards the end of the year to outline the strategy more clearly" on Nature's Basket business.
As per the company's annual report of FY 2015-16, it was operating 37 stores of Nature's Basket in Mumbai, Delhi NCR, Pune, Hyderabad and Bangalore.
The company had invested Rs 65 crore in Nature's Basket last fiscal to support its growth plans.
It had a sales turnover of Rs 271 crore in FY2015-16, delivering a year-on-year growth of 30 per cent. However, it had registered a loss of Rs 62.69 crore last fiscal.
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