Biznextindia : GRM Overseas Limited, one of India’s leading basmati rice exporters, on Monday announced that its subsidiary GRM Foodkraft has entered into a Memorandum of Understanding (MOU) with Spencer’s Retail Limited to place its Products in Spencer’s Stores.
As per MoU, GRM Products will be available in 155 stores of Spencer’s Retail Limited across the country, under B2C category.
The partnership with Spencer’s Retail Limited will further strengthen GRM presence and maximize its reach in domestic market and is expected to drive the top line growth and market share in the coming years. This is an important breakthrough for GRM since Spencer’s Retail Limited has stringent prequalification requirements for approval of its suppliers / vendors for purchasing any Products. Spencer’s approval demonstrates GRM Product quality, safety standard and compliance with domestic requirements and regulations.
GRM’s association with Spencer’s Retail Limited is a testament to Company’s strong customer relationship as well as effective marketing capabilities in domestic as well as export market. Further, GRM strive towards more wins like these with top grocery retailers / chains in the domestic and international markets in future.
Going forward, GRM will continue to focus on diversifying from private label basmati rice offerings to high margin own brands, specialized and value-added Products, and adding value through Products differentiation. Taking the momentum forward with a clear strategy in mind, GRM is poised to enter into a new era of growth and to create maximum value for all our stakeholders.