Bajaj Consumer gets Bain & Company onboard to drive growth
FMCG firm Bajaj Consumer Care has got global management consultancy Bain & Company onboard to drive growth of its hair oil business division.
Bain & Company will be responsible for strategizing, controlling costs and driving growth of the company in the hair oil division. The company is looking to make deeper inroads in the Rs 13,000 crore ($1.87 billion) hair oil market in India with its brands Bajaj Almond Drops, Bajaj Kailash Parbat and Bajaj Brahmi Amla.
Bajaj Consumer’s sales for the full fiscal year ended March 2019 were up by 9 percent to Rs 881 crore with a net profit of Rs 226 crore.
"Bain & Company will help our company plan to grow our hair oil brands faster. They will be using their well respected BBA or Bain Brand Accelerator model to guide us towards faster growth," Bajaj Consumer Care managing director Sumit Malhotra said in a statement.
“Bain & Company, which has come on board from April 1, has been mandated to look at the hair care business and it may or may not be engaged for the overall company strategy. Currently, we are only looking at hair oil and what we can do to increase the rate of growth in hair oil which we are currently around 10 percent market share," Malhotra added.
Bajaj Corp Ltd is part of the Bajaj Group and is one of the leading players in the hair oil and skin care categories in India.
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