SPAR Group Reaches Joint Venture in India


On Tuesday July 12, 2011, SPAR Group, Inc. (NASDAQ:SGRP),. an international variegates merchandising and marketing Services Company, announced that it is signing a joint venture agreement with Krognos Integrated Marketing Services Private Limited, with the aim of expanding its respective business operations in India. The agreement is drafted with an assurance of providing profitable business to the merchandising and marketing, services to manufacturers and retailers throughout India by aiming to incur $3 million as annualized profitable revenue over the next one year of the agreement.

The new venture authorizes the SPAR Group to hold a 51% ownership interest; functioning under the name of SPAR Krognos Marketing India Private Ltd. it includes various marquis clients namely Unilever, Wal-Mart Stores, Kraft Foods, ITC Limited, and Tata Motors who inherits the caliber to incur lucrative revenue. The company’s secondary aim is to concentrate in the specialization of of in-store merchandising, demonstrations, and sampling.

Gary Raymond, Chief Executive Officer of SPAR Group acknowledged that they are very much contended to build a partnership with the Management of Krognos in forming this New Venture, thereby providing them the opportunity in expanding their international business and enhancing the profitability of the company. The group believes that Krognos will prove be an ideal partner to enhance India’s emerging growth economy.

SPAR Group, Inc with combined effort of Management of Krognos, with their respective knowledge regarding the functioning of the local market aims to provide highly measurable, cost-effective merchandising solutions to the manufacturers and retailers in India.

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