Cupid Limited Unveils New Mother Warehouse in Bhiwandi, Mumbai, to Support Rapid Consumer Business Growth
NASHIK, India, July 8, 2024 /PRNewswire/ — Cupid Limited, a renowned exporter of premium condoms, is excited to announce the grand opening of its new Mother Warehouse in Bhiwandi, Mumbai. This strategic initiative is in response to the remarkable growth of its business-to-consumer segment.
Launched just six months ago, Cupid’s consumer business, under the brand names ‘Cupid’, ‘Cupisure’, and ‘Cupikit’, has already made a substantial impact, contributing over 14% to the company’s total revenue. The ‘Cupid’ brand encompasses condoms, deodorants, and other personal care products, while ‘Cupikit’ focuses on rapid IVD products, and ‘Cupisure’ offers pregnancy detection kits.
The new Mother Warehouse underscores Cupid Limited’s commitment to meeting the soaring demand for its products. Currently available in 50,000 outlets, the company aims to double this number within six months. This expansion will not only increase product accessibility for consumers but also solidify Cupid Limited’s market position.
“We are thrilled with the overwhelmingly positive response to our consumer business in such a short time. The opening of our new Mother Warehouse demonstrates our dedication to meeting customer needs, ensuring product availability in more locations, and enhancing our value chain,” said Aditya Halwasiya, Managing Director, Cupid Limited.
With this strategic expansion, Cupid Limited is set for continued growth and success in the consumer-branded business sector. Stay tuned for more exciting developments as Cupid Limited continues to innovate and expand its product offerings, bringing new and exciting products to our customers.
About Cupid Limited:
Established in 1993, CUPID Limited is India’s premier manufacturer of male and female condoms, water-based lubricant jelly, IVD kits and Deodorants. The company boasts a production capacity of up to 480 million male condoms, 52 million female condoms, 210 million sachets of lubricant jelly and 30 million IVD Test Kits annually. The company has recently launched its line of CUPID Deodorants and Pocket Perfumes. In March 2024, the company completed a strategic land acquisition in Palava, Maharashtra, enabling it to amplify its production capacity by 1.5 times the existing output. As a result, the annual production capacity will be augmented by approximately 770 million male condoms and 75 million female condoms. This expansion is in addition to the current production capacity. The company has a prominent presence in international markets and is the first company in the world to attain WHO/UNFPA pre-qualification for male and female condoms. CUPID currently exports its products to over 105 countries, with over 90% of its revenue generated from international markets. Furthermore, CUPID has established a long-term agreement with WHO/UNFPA. The company is listed on BSE (BSE: 530843) and NSE (NSE: CUPID).
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