10X Ventures will capitalize on GRM’s expansive infrastructure and entrepreneurial spirit to bolster net sales and margin growth.
Shares of GRM Overseas Limited, a prominent name in India’s FMCG sector, as the company has announced the official launch of its new strategic platform, 10X Ventures.
This innovative platform is poised to drive growth by investing in Digital-First New Age D2C brands, Lifestyle brands, smaller portfolio brands, and incubator opportunities. 10X Ventures will capitalize on GRM’s expansive infrastructure and entrepreneurial spirit to bolster net sales and margin growth.
10X Ventures will leverage GRM’s robust teams, including marketing, distribution, sales, and supply chain, to rejuvenate its brands. Embracing an entrepreneurial mindset, these teams will treat each brand as a startup, focusing on quick innovation in concepts, product lines, and categories. This approach will enable GRM to rapidly adapt to market dynamics and consumer preferences.
“The launch of 10X Ventures marks a pivotal step in our ongoing commitment to innovation and leadership in the FMCG sector. Our vision is to become a blended house of brands company, seamlessly integrating the strengths of traditionalFMCG with the agility of e-commerce aggregators and roll-up models. This strategic approach allows us to stay at the forefront of industry trends while meeting the evolving needs of our consumers, ” said Atul Garg, MD of GRM Overseas Limited.
Meanwhile, the counter opened at Rs 267.65 on Monday and surged further to touch the intraday high of Rs 276.25 on the BSE. The scrip had closed at Rs 262.80 in the last trading session.
The stock of GRM Overseas, which has a market cap of around Rs 1,590, has a 52-week high of Rs 286.15 and a 52-week low of Rs 114.15.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)