ITC smells opportunity in the deo market -The Hindu Businsess Line
September 24, 2011
Mr Sandeep Kaul, Chief Executive, Personal Care Production Business, ITC, with actor and brand ambassador for ITC Fiama Di Wills, Deepika Padukone, at a press conference in Bangalore on Friday.
ITC's Personal Care Products Division is eyeing a foray into the domestic deodorant market. Mr Sandeep Kaul, Chief Executive, Personal Care Products Business, ITC Ltd, told Business Line that the deo segment was a rapidly growing market in India, and the company was closely eyeing the developments in the market for a possible extension of the Fiama Di Wills brand in the category. The deos market is valued at about Rs 900 crore and has more than 60 players.
The company already has the Essenza range of fragrances in the premium category, but has no presence in the deo range priced between Rs 100 and Rs 150 that is a popular segment in the country. Other players that have a significant presence in this segment are Wipro, HUL, CavinKare, VLCC, apart from sport brands such as Reebok and Nike and several private label brands of large retailers.
To get its brand to the market 'first time right quicker', the company today launched the Laboratoire Naturel in Bangalore, a centre for consumer and product interaction. In this 10,000 sq ft centre, ITC's 60 member R&D team would directly interact with consumers to co-create new products and improve the existing ones.
"This way, consumers would be part of the development of the products that would help us reach the market quicker," said Mr Kaul. The team of research scientists would work hair on hair and skin samples to create products.
