Mcnroe to strengthen its presence in men’s grooming segment
Mcnroe Consumer Products Pvt Ltd will be expanding its product portfolio to strengthen its presence in the men’s grooming segment in the country.
The company, which owns popular brands like Wild Stone, Secret Temptations and Heaven’s Garden, sees huge potential for growth in the grooming market and plans to launch new products in this segment every three months.
Mcnroe entered the men’s grooming market last year with the launch of Wild Stone Edge which offered hair gels, shower gels, face wash, and shaving foams.
“Grooming products have become mainstream now. The men’s grooming category was witnessing growth and it made business sense to enter the segment. We will see how the traction has been for this new range and would look to add to the range every three-to-four months,” Narendra Kumar Daga, managing director of Mcnroe, told BusinessLine.
The expansion of its product portfolio has helped the company boost its topline by 25 percent. The company is expecting its revenue to rise to Rs 500 crore ($70.6 million) by the end of this fiscal from Rs 410 crore it reported the previous year.
The Kolkata-based firm was founded in 1993 and has its presence across India with 3, 20,000 dealers and also exports its products to Bangladesh, Sri Lanka, Pakistan, and Nepal.
Copyright © 2021 FashionNetwork.com All rights reserved.