GRM Overseas subsidiary partners with Reliance Retail (JioMart)
Indian basmati rice exporter GRM Overseas said that its subsidiary GRM Foodkraft has signed a memorandum of understanding (MOU) with Reliance Retail (JioMart) to place its products in Reliance stores.
The products of GRM Foodkraft will be available under B2B category across 45 distribution centers of Reliance Retail (JioMart) in India.
GRM Overseas said that the partnership with JioMart will further consolidate the footprint of its subsidiary and maximize its reach in the domestic market.
GRM Overseas subsidiary partners with Reliance Retail (JioMart). Photo courtesy of Arunvrparavur/Wikipedia.org.
The basmati rice exporter stated: “This is an important breakthrough for GRM since Reliance Retail Limited (JioMart) has very stringent pre-qualification requirements for approval of its suppliers/vendors for purchasing any Products.
“In order to get vendor approval from Reliance Retail Limited (JioMart), the Products must demonstrate the requisite quality and safety standard and must be in compliance with domestic requirements and regulations.”
In the near future, GRM Overseas plans to continue focusing on diversifying from private label basmati rice offerings to high margin own brands, specialized and value-added products, and also in adding value via differentiation of products.