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Informist, Thursday, Jan. 9, 2025

 

KOLKATA - Personal care products company Emami Ltd. aims to increase its revenue from men's grooming products by 67% to around INR 12.5 billion in the next two years, Vice-Chairman and Wholetime Director Mohan Goenka said Thursday. The company also plans to widen its range of products in this segment in the next three-four months, he said.

 

The company is refurbishing its male grooming products brand. With its Fair And Handsome brand, Emani has so far been present in the face care portfolio comprising face wash and face cream. The size of the men's care market in which Emami operates, primarily men's face cream and face wash, is around INR 7.6 billion.

 

The company's in-house men's grooming brand is now being renamed Smart And Handsome, Goenka said, adding that Emami would now enter a wide range of male grooming products. The company also has The Man Company brand of men's grooming products, which it acquired recently.

 

"It will open us to operate in the entire men's grooming category, which is valued at around INR 178.5 billion," Goenka said. "We are the market leader in men's grooming face cream and also currently present in men's face wash."

 

Goenka said that over the next two years, The Man Company brand is expected to record revenue of INR 5 billion, higher than the current INR 2 billion. "We will look to have at least INR 7.5 billion revenue from the Smart And Handsome brand in the next three years, and INR 10 billion in the next three years," he said.

 

According to Emami, the male grooming segment in India is growing at a compounded annual rate of 7.2%, and is expected to reach INR 348.5 billion by 2032.

 

"As pioneers in male grooming, we wanted to participate in a much wider space (male grooming products) and have a 65% market share in the category we operate it," Goenka said.

 

Besides the mass segment, Emami is targeting to launch products in the semi-premium space, which it terms 'masstige'. The prestige segment is priced much higher than mass products. Goenka said Emami would launch several men's grooming products in the next three-four months under the Smart And Handsome brand, and spend INR 150 million in the next two months.

 

"As pioneers, we felt that we need to address this market before anybody else comes in," Goenka said. Most of the products will be in the masstige segment which is priced higher than mass products but lower than premium.

 

At 1458 IST, shares of Emami were up 2.9% at INR 600.06 on the National Stock Exchange.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Avishek Rakshit

Edited by Avishek Dutta

 

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