Devyani International Ltd. – RJ Corp

Ravi Jaipuria, beverages and snacks major Pepsi-Co’s largest Indian bottling partner, has set the stage for potential competition with its long term ally by launching its own salty snacks brand. Jaipuria-promoted RJ Corp has launched salty snacks under the brand name Kaabuli, and, according to an industry executive directly aware of the development, some products are strikingly similar to product offerings under PepsiCo’s Kurkure salty snacks brand. The company, however, denied it would compete with Kurkure. “Our snack brand is priced at the entry level and will not compete with PepsiCo’s value-added products,” an RJ Corp spokesperson told ET. The spokesperson further said by and large, the Kaabuli brand of salty snacks would be sold through Jaipuria’s own retail venture JMart. While RJ Corp’s no-compete contract with PepsiCo is with beverages, both entities work closely and have leveraged cross-synergies, at the former’s retail and hospitality ventures. JMart, developed on lines of small-format convenience stores, operates over 80 stores as of now. RJ Corp, with diversified interests across sectors, has said in the past that it hopes to cross $5 billion in revenues by 2020, from about $1.6 billion now.