GCPL eyes 25 percent of hair care market in India
Godrej Consumer Products Ltd (GCPL) is betting big on the hair care market in India for growth eyeing 25 percent market share and revenue of Rs 300 crore ($43.5 million) in the next three years.
To meet its target, Godrej will take its offerings to 50,000 salons across India during the period to take on established players like Loreal, Estée Lauder, Wella, and Schwarzkopf in this segment.
As part of its growth strategy, Godrej will offer its range of professional products across 10,000 salons by the end of financial year 2019-20.
“The target is to have a 25 percent market share over the next three years (FY22). With 25 percent market share, our turnover is expected to be around Rs 300 crore,” Ketan Takalkar, associate vice-president, Godrej Professional, GCPL told the Businessline.
“Our prices are 60 percent of MNCs’, and we are looking to increase our presence across salons in the country. Offerings in the hair treatment, hair texture and styling categories are expected by the end of this year,” he added.
GCPL had reported disappointing numbers during the last two quarters of the previous fiscal.
It is now looking to revive its fortunes during the current fiscal by strengthening its soaps, hair care and premium segment for future growth in the Indian market.
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