GRM Overseas Signs Salman Khan as Brand Ambassador for 10X Basmati Rice and Atta
GRM Overseas, a leading FMCG company, has roped in Bollywood superstar Salman Khan as the brand ambassador for its 10X brand, which includes basmati rice and wheat flour (atta). The partnership, signed for a two-year duration, is aimed at enhancing the brand’s visibility and expanding its reach across India, particularly in tier 2 and tier 3 cities.
"Salman Khan’s popularity across GRM’s target market geographies and demographics aligns perfectly with the 10X brand", said Atul Garg, Managing Director of GRM Overseas. Garg also highlighted the company’s ambitious growth plans for its domestic branded business, which generated a turnover of Rs 265 crore in FY24 out of a total turnover of Rs 1,800 crore. The company is now targeting Rs 650 crore from its domestic branded business in the current financial year and aims to reach Rs 1,000 crore by 2026.
GRM Overseas, primarily known for its basmati rice exports, has been increasingly focusing on the domestic market. The company has expanded its product line under the 10X brand to include rice, atta, besan, semolina, flour, and mustard oil. Additionally, it has entered the ready-to-cook segment, introducing products like ready-to-cook biryani, with plans to launch more offerings in this category. “We call it our new-age business, and many other ready-to-cook products are in the pipeline for the domestic market added Garg.
The company is strategically focusing on tier 2 and tier 3 cities, where branded products currently hold only a 10% share of the market, with the remaining dominated by unbranded goods. Garg noted a noticeable shift in consumer preferences towards branded products in these regions, and GRM aims to capitalize on this trend to boost its branded business.
To fund its expansion and potential acquisitions in the ready-to-cook segment, GRM Overseas recently raised Rs 136 crore through share warrants. The company’s collaboration with Salman Khan is seen as a strategic move to connect with consumers across diverse demographics and strengthen its brand presence both domestically nd globally.
'Salman Khan’s mass appeal and fanbase are a perfect match for our 10X brand range of Basmati Rice and 10X Shakti Wheat Flour (Atta)”, said Garg, expressing confidence in the brand’s future growth with this high-profile endorsement.
