Jun 15, 1999|
Doktor Mom up for sale
Th Rs 1.5 bn J B Chemicals has appointed KPMG Peat Marwick to find a
buyer for its star international brand Doktor Mom. The company retails
ayurvedic cough syrup and cold rub products under the Doktor Mom.
Confirming the news to sell the brand, J B Chemicals managing director J
B Modi told the press that the company had decided to divest the brand
as it was region specific and the company was not in the
over-the-counter business in India. He also added that the Russian
crisis had pushed sales of the brand to below Rs 100 m.
Doktor Mom, which was probably the largest Indian brand abroad, notched
up sales of over US$ 9 m or Rs 400 m in FY98 in Russia and the CIS. It
is understood that the brand has been trawled with a clutch of
multinationals. Indian companies are still wary of the Russian market.
Among multinationals, Hoechst has a large Russian business, while Dr.
Reddy's is the largest among Indian corporates.
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