As part of its transformation plan, one of the country's oldest spice manufacturing brands, JK Masale has adopted a new strategy that targets Rs 500 crore plus in the next four years. As an industry that delivers essential food or grocery items and the demand never goes down for those, JK also focuses on its exports business to various countries like Hong Kong, Canada, Thailand, Bhutan, Indonesia, South Korea and many others.
The market for eCommerce items has boomed drastically; thus, looking at the current scenario, JK plans to be more aggressive in that particular segment. They have recently introduced an online shopping platform that delivers all the items under the umbrella of the JK brand, namely 'JK Cart' all over India, ranging from beverages, spices, gourmets to many seasonal products.
Last year, the company clocked above Rs 300 crore in revenues and this year, it is planning to close with 20% to 25% growth.
Commenting on the new strategy, Vijay Jain, chief marketing director of JK Masale, added, "Apart from our existing retail outlets, we have planned to expand the number of retail outlets, namely 'JK Lifestore' in various locations. Moreover, as a part of an exciting announcement, we have planned to come up with other business segments to help people amidst the ongoing pandemic by creating employment opportunities for them. Covering all the segments, we are hopeful of crossing more than 500 crore revenue in the next four years given a predicted 'V' shape recovery throughout all sectors."
Established in 1957 by Late Shri Dhannalal Jain, the founding father, JK Masale, registered under JK Spices and Food Products, started with a unique vision to manufacture and supply pure, hygienically packed spices. JK Spices and food products currently operate across three verticals – JK Masale, JK Cart and JK Lifestore. Headquartered in Kolkata and with offices in Rajasthan and Gujarat for over 60 years, the brand has strived to serve the market with consistency in its quality and services. Being one of the first companies to introduce commercially packed spices in small packaging, the company is strategically located at Unjha (Gujarat), Kolkata (West Bengal) and Jaipur (Rajasthan).