Godrej to eyes Rs 100 crore revenue from hair care segment

Godrej Consumer Products (GPCL) will be expanding its base in the professional hair products market and set a target of Rs 100 crore (approx $14.6 million) over the next three years, said a company official.
 
Godrej to eyes Rs 100 crore revenue from haircare segment - Godrej Professional

Godrej is banking on its recently launched Godrej Professional brand to drive growth as it looks to take the salon network to further boost sales. With the hair care products market estimated to be around Rs 1200 crore and salon services at Rs 12000 crore, Godrej is hoping that the combination of both will help it achieve its target.
 
For the fiscal year 2017-18, GCPL had posted profit of Rs 1634 crore (approx $243.7 million) with total sales of Rs 9937 crore (approx $1.48 billion).
 
"The professional hair products market currently is about Rs 1,200 crore and our company is aiming to do a business of Rs 100 crore in the next three years," GCPL's Associate Vice President - Professional Business, Ketan Takalkar was quoted as saying by PTI.
 
"In July 2017, we had launched Godrej Professional in four big cities. Now we are present in 11 cities across the country including Chandigarh, Ludhiana and Amritsar. The company's products will be available through the salon channel and not the retail market as the salon services market is estimated to be around Rs 12,000 crore, out of which the bulk comprises hair-related services.”
 
Godrej Consumer Products Ltd (GCPL) is owned by the billion-dollar firm Godrej Group and offers several personal care and cosmetic brands.

Copyright © 2018 FashionNetwork.com All rights reserved.

HairBusiness