Consumer Goods Firms Tap Startups To Boost Growth

Leading fast-moving consumer goods (FMCG) firms and retailers including Haldiram’s, Wipro Consumer Care and Lighting Ltd, LuLu Group and Burman Family Holdings, the family office of Dabur India, are scouting for investments in consumer brand startups to boost growth in a weak economy, multiple investors and industry executives said.

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Consumer spending across the FMCG and consumer packaged goods (CPG) segment have fallen sharply in the last couple of quarters.
Wipro Consumer recently launched a venture fund to invest in startups in the consumer brands space. A Wipro spokesperson said the company will look to invest about ₹10-30 crore in early to mid-stage startups. “We will be looking at those startups where we can add value as well learn from them. Financial returns would be an important objective of the fund as well as adding strategic value, but all as a minority investor,” the spokesperson added.

Source: livemint

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