GRM Overseas launches 10X Ventures, to invest Rs 200 crore

FMCG company GRM Overseas has announced the official launch of its new strategic platform, 10X Ventures. According to the company, the new platform will be 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 company said.

Commenting on the development, Atul Garg, MD of GRM Overseas Limited said that the firm's vision is to become a blended house of brands company.

“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 traditional FMCG 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, ” Garg said.