Vikas Multicorp appoints FMCG veteran Sunil Alagh as first chairman of its advisory board

Vikas Multicorp Ltd (VML ) has constituted an advisory board comprising several eminent business personalities. The advisory board will provide the firm with guidance, act as a sounding board to the company’s senior leadership team and advise the board of directors on various strategic decisions.

Sunil Alagh, a veteran of consumer-focussed businesses, has been appointed the first chairman of the advisory board. Alagh, who has decades of experience in FMCG brand building and distribution networks, will steer the company’s strategy in B2C business. The board will consist of other members by invitation, people of eminence from the fields of marketing and branding, finance, engineering, general management , legal, etc.

VML enters the FMCG segment

VML had recently announced that it will enter the food protection and personal hygiene segment of the FMCG industry, with an investment of approximately `100 crore in two years. The acquisition of aluminium foil and tissue brands like Homefoil, Chapatiwrap, Cleanwrap and Mistique will help it in this sector. VML also intends to acquire further businesses to expand its footprint across India.

The aluminium foil market in India is about 200,000 MT per annum, worth about `7,000 crore. These brands have a six per cent market share. The tissue paper market in India is worth about `5,000 crore, and the Mistique brand has a 10 per cent market share among branded tissues, with prominent presence at more than 10 lakh retail institutions.

In addition, the company is also planning to foray into complete solutions for food protection, packaging and personal hygiene.