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Speaking to Just Food at the IFE industrial exhibition in London on Monday (March 25), founder Rishab Jain said the logo is “in talks with some distributors” to sell its products to major UK retailers.
When checking retailers, Jain named Tesco and Sainsbury’s.
He expects the negotiations to conclude “in two or three days, hopefully. “
A limited range of Mr Makhana products has been sold online on Amazon in the UK since January.
The purpose for 2024, Jain said, is to “find a distributor, get the product into retail stores, build a retail store network, and see how the product [will work] and the answers. “
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Explaining the reason for the UK’s expansion, Jain added: “There’s this mentality [that the product is] for Indians or ethnic groups, but I think the product is very unbiased in terms of taste. We can meet everyone’s needs. “
As part of its strategy, the company is creating new flavors for the U. K. market to get consumers “used to the taste,” Jain said, with flavors such as cheddar, truffle and smoked barbecue.
Mr. Makhana produces a variety of makhana snacks, also known as popped fox nuts or lotus seeds grown from water lilies.
The company’s diversity includes chocolate-covered makhana, as well as more flavorful flavors such as Pudina Party, Piri Piri Paradise, Butter Tomato, and Lime.
In addition to India, Makhana includes GCC countries such as Oman, Saudi Arabia, and the United Arab Emirates, as well as Canada. It also sells to Japan and the United States.
Founded in 2015, the company subcontracted until 2019, when it set up its first local production in Ahmedabad, which it still uses today to supply the domestic market.
Last April, the company also opened a facility in Dubai to serve its customers outside India.
The Indian factory manufactures about 50 tonnes of makhana snacks per month, while the Dubai factory has a capacity of 24 tonnes per year.
The company’s overall annual production capacity was about 600 tonnes last year, with plans to increase it to 800 tonnes over the course of the year over time, Jain said.
Mr. Makana’s overall annual profit will be approximately $43 million in 2023, of which approximately $40 million will be generated in India.
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