Now, ITC to enter fairness cream mart - Times of India
June 11, 2010
Y C Deveshwar-led ITC is planning a foray in the fast-growing fairness cream market under the Vivel banner to compete with the likes of Hindustan Unilever, Emami, CavinKare and Elder's Pharma that also operate in this segment.
Part of the over Rs 4300-crore skincare arena, the fairness cream category is growing at around 14%. The total market of fairness creams is estimated at Rs 1,700 crore, making it the single largest segment of the skincare business.
ITC personal care products chief executive Sandeep Kaul said: "We, at ITC, have been involved with intensive R&D efforts over the last three years to create a unique value proposition and a superior fairness cream for Indian consumers. The fairness cream is a result of continuous engagement with consumers, understanding their needs and designing an offer, and delivering benefits which truly make a difference."
According to ITC officials, the cream, to be christened Vivel Active Fair, would be first introduced in Kerala and later extended to other markets. "We have received encouraging response during test marketing of the fairness cream and are confident of making inroads in this growing market," an official said. ITC would price its fairness cream between Rs 5 to Rs 70 depending on the size.
