LG in pact with ITC for rural sale

KOLKATA: LG Electronics India will sell its products through retail subsidiaries of ITC Ltd and DCM Shriram to expand its reach in the countryside as the consumer giant hopes to nearly triple its revenues in the next three years.

The company will spend Rs 100 crore to push its products through ITC’s e-Choupal and DCM Shriram’s rural retail venture, Hariyali Kisaan Bazaar, said LG Electronics India chief operating officer YV Verma on Saturday. “We have identified towns in 14 states that have more than 50,000 people. The strategy is to tap distributors of FMCG products, fertilisers and two-wheelers who have a dominant presence in these areas,” Verma added.