Adverse feedback hits Patanjali’s hope of doubling its revenue
PATANJALI’S JOURNEY BEGAN IN 2006. BEGINNING WITH AYURVEDA PRODUCTS, THE COMPANY NOW HAS AN ARRAY OF PRODUCTS ON ITS PORTFOLIO
DEHRADUN: Many Patanjali products, promoted by yoga guru Ramdev, are reportedly getting “adverse feedback” from consumers and retailers, denting the company’s hope of doubling its revenue to ₹10,000 crore in this fiscal.
The Haridwar-based Patanjali Ayurved formed two internal committees at the behest of Ramdev to assuage the dissatisfaction of the retailers to address the problem. The idea is to keep retailers happy so that they “take care of the interest” of the company by retaining consumers.
Patanjali’s journey began in 2006. Beginning with Ayurveda products, the company now has an array of products on its portfolio. However, questions had been raised over the quality of some of the products.
Patanjali ghee, noodles, honey are few that faced lab tests – giving enough fodder to the competitors and reasons for consumers to doubt. The company also faced Food Safety and Standards Authority of India’s ire for ‘misbranding’. It, however, refuted the charges.
“Babaji’s (Ramdev) brand image is associated with the Patanjali products.
There is no question of compromising with the quality,” said SK Tijarawala, spokesperson, Patanjali. He, however, did not divulge any details on the new arrangements being planned. A company functionary admitted that riding on the huge brand name of Ramdev, the corporate office at Haridwar earlier neglected the feedback from partner channels.
However, after Ramdev’s intervention, two committees have been formed. One will look into the issues arising from the products that are either nearing or have reached expiry dates.
And the second committee will compensate retailer for those products that breaks during the shipping. Besides, company is mulling to pass on certain amount of revenue to retailers across the country.
Despite the fact that Patanjali has got offers to expand business in Bangladesh, UAE, Iran, Azerbaijan etc – the company prefers to concentrate on domestic market.