ITC expects personal care brand Savlon to clock Rs 1,000 crore sales
ITC Ltd’s personal care brand Savlon is all set to become Rs 1,000 crore ($136.4 million) brand for the company this fiscal year. ITC had acquired Savlon from Johnson & Johnson around five years back when its revenue was Rs 50 crore.
Since the acquisition, Savlon has been growing at a fast pace with the Covid-19 pandemic giving it a fillip, helping it grow four times in sales, as compared to Rs 250 crore it reported in the last financial year.
Due to the Covid-19 pandemic, ITC has launched various variants of Savlon in the market and expects the growth momentum to continue in the coming years.
“Going by the growth trends in the first six months of the year, Savlon is set to be a Rs 1,000 crore brand. It will be the first Rs 1,000 crore brand in ITC's personal products category. Savlon has grown 3-4 times in sales over last year when it had clocked sales of Rs 250 crore. The heightened hygiene and safety needs of the consumers have led to a boom in this category,” Sameer Satpathy, CEO of ITC's personal care products business, said in a virtual conference.
“We are hungry for value accretive acquisitions. Savlon is an example of creating value through acquisitions. We will look at opportunities where we feel we can multiply, take the brand and expand it to create value for all our stakeholders,” Satpathy added.
ITC's personal care portfolio includes brands such as Essenza Di Wills, Fiama, Vivel, Engage, Savlon, Charmis, among many others.
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