Grover said the saffron launch is under the Himalayan umbrella – in line with the strategy of strengthening provenance positioning, with products which are gold standard, source-based (from the Himalyan belt) and minimally processed. Initially, it will test waters by making it available in select cities.
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Kashmiri saffron is considered premium and priced between Rs 550-800 per gm, while Iranian saffron sells at a lower price, industry experts say. The Kashmiri saffron market is estimated to be worth Rs 500 crore, and is highly fragmented with no large player. Others in the space include Baby Saffron, Lion and Everest – which cater to the lower-priced segment.
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Recently, prices of Kashmiri saffron have jumped after receiving the geographical indication (GI) tag, which verifies the spice’s origin.
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