Arjun Ranga, Managing Partner in the Group says, “We have started two new plants in Gingee and in Kovilpatti, where we make our agarbattis. The local labour department and authorities were quite helpful and the ease of doing business that we experienced there was remarkable. We have transformed both these locations from stocking and warehousing facilities to full-fledged manufacturing units and this was a post GST-development.”
As many as 500 jobs will be created with these units. The company has also set up a factory in Ambala, Punjab, which will go online shortly, and it will lead to a faster access to the North Indian market. The parent company NR Group, which also owns Rangsons Healthcare, recently set up Mindful TMS Neurocare clinic in New Delhi to treat clinical depression. According to studies, across the nation, there are about 3,500 trained psychiatrists and fewer psychologists to treat 4.5% of the population suffering from depression.
Ranga tells us, “Our family has always believed that spirituality and mental wellness go hand in hand, which explains our foray into this space. We have one centre in Chicago and Rome, which are live. We plan to set up a centre in UAE shortly and will be adding 12 more centres to the chain over the next one year.”
The group is aggressively expanding in the home fragrances segment – with room and air freshener variants. Its Iris Aroma Boutique which has one outlet in a city mall here, got its seventh outlet in Bengaluru, followed by Pune. “Within the next two years, the brand will have a 20-outlet strong presence pan-India. As part of the Deepavali offerings, the group, under the brand Om Shanti, launched two pooja oils – in jasmine and parijaatha fragrance.
Apart from that we also launched ghee diyas, with an in-built wick,” says Ranga. By the end of this financial year, Cycle wants to strengthen its presence in the North East and North India.