Jovees to invest in Sri Lanka

High demand for cosmetics:

Harshini Perera

An Indian company is exploring the possibility of setting up a cosmetics manufacturing plant in Sri Lanka. JR Herbal Care India Limited Business Head Rakesh Misri said as the economy stabilizes after the war, the year ahead will flourish for the FMCG industry.

“Considering market growth and domestic conditions, Jovees will explore more markets in Sri Lanka,” he said.

Speaking to Daily News Business at the Art of Hair and Beauty Show organized by R.F. Asia International yesterday, he said the Sri Lankan market is growing for the best in the FMCG industry and expects it to grow further.

Jovees has a market share of 30 to 40 percent in the Sri Lankan market. It is expected to grow further in the future.

“We will be conducting training programs in imparting knowledge on keeping them healthy with our products,” Misri said.

“Our products are manufactured adhering to the latest and scientific technology derived from natural herbs.

They have invested Rs 10 million for their manufacturing units in India to enhance the quality to the international standards.”

A new range of products especially for young people in Sri Lanka will be introduced in the future.

JR Herbal Care India Limited is present in 15 countries including Malaysia, Hongkong, Europe, France, Australia and Russia where its turnover for 2009/10 was US$ 60 million.

There are 2,500 employees across India.