Express press service
NEW DELHI: FMCG major Bajaj Consumer Care plans to focus on a single brand – its flagship Bajaj Almond drop hair oil – to build new brands in a bid to tap into the larger high-end personal care space. The company’s managing director, Jaideep Nandi, in an interaction with TNIE, said the company plans to launch several products in the skin and hair care categories that people can remember beyond the almond hair oil.
For Bajaj Consumer Care, Nandi says, one of the main pros and cons has been its unique brand. “This is a unique product that attention and energy has been focused on and product expansion for the organization has been delayed on.” As part of its expansion strategy, the company intends to pull on three prongs: expanding the hair oil portfolio, creating new brands and offering almond oil in new formats.
“You will see a full set of almond drops in personal care in multiple formats like serums, lotions and shampoos etc. The launches will be graduated,” he said. The company launched its Bajaj Almond Oil Moisturizing Soap on Tuesday as a continuation of that plan. “The 90% salience that almond oil has for the business today is expected to decline as the product continues to grow as new brands become larger,” he said. Talking about Bajaj almond oil market share, Nandi says it has hovered between 9.7% and 10.3% over the years, so it’s flat if you look at the overall market of 13 000 crore. “We are considering penetrating southern markets, a presence in LUPs to increase market share in the category.”
In the Rs 13,000 crore hair oil market, the company plays in the Rs 2,000 crore light hair oil category, Nandi notes. The company launched its first two digital brands – Natyv Soul and Bajaj Pure – just seven months ago.
On acquisitions, Nandi says, “Whether it can help deliver projects to complement a hair oil line or deepen the personal care category, or can add value in geographies where the business is more weak, so we’ll look at it. . In the D2C space we will also continue to watch very closely and if we feel there is an attractive opportunity for us, that is clearly an option.
Nandi says the rural economy is a bit stressed in terms of demand conditions. However, he adds, “I think it’s more of a transitory thing rather than a long-term thing.” Intermediate packs are suffering, he said, as consumers turn to low-unit packs or value-seeking packs. “We are investing in bigger packs because they work well.” He also notes that wealthier economies like the South and Maharashtra seem to be doing somewhat better.
Plan a new product line
The company plans to launch several products in the skin care and hair care categories that people can remember beyond the almond drop hair oil. He launched 2 first digital brands – Natyv Soul and Bajaj Pure – just 7 months ago