In its endeavour to turn global, Dabur India on Monday said it has entered into a 74:26 joint venture with Bangladeshi company Advanced Chemical Industries for producing hair care and oral care items.
Dabur has acquired majority 74 per cent stake in the new company, which has a total equity base of about Rs 2 crore (Rs 20 million), a Dabur India spokesperson told PTI in New Delhi.
He said having set for itself an aggressive growth target, the company has also identified other overseas markets where similar joint venture operations will come up in the near future.
"We are looking at joint venture potentials in many overseas markets which hold potential for Dabur products. The Bangladesh JV is the first such operation of Dabur's FMCG business outside of India," he said.
Among the other markets where the prospects of starting similar JV operations have been found include the United States, Britain, Pakistan, Nigeria and the Middle East.
On entering the Bangladeshi market, the JV will initially begin manufacturing hair care products of Dabur and then expand into oral and skin care segments.
In the United States, Dabur was looking for distribution alliances, whereas in Britain it was keen on forging an equity JV, the spokesperson said.
"Also, the middle east is a large market for us, which is currently being serviced through a franchisee model. But we are again looking for a JV possibility to expand the turnover from this part of the world," he said.
Besides the proposed JV operations, Dabur India has subsidiary operations in Nepal and Egypt at present.