In next couple of years, herbal health and personal care firm, Himalaya Drug Company is eyeing to double its market share in the men’s facewash category to about 12 per cent.
As the company is planning to expand its men’s grooming segment, it has already introduced facewashes and soon it will be launching other products like hair gels, creams and a lot more.
“We are the market leaders in the women’s facewash category and expect to grow our market share in the next couple of years in men’s facewash as well to about 10-12 per cent from the current 6-7 per cent,” Rajesh Krishnamurthy, business head of consumer products at Himalaya Drug Company, told PTI.
Currently, the facwash market is worth Rs 1,800 crore in India and out of this Himalaya has 23 per cent share in this category. Of this, men’s segment accounts for about Rs 275 crore, and is growing at a fast clip of about 30-35 per cent.
By focusing on men’s grooming, herbal health and personal care firm is planning to cash in on the growth momentum. There are around 150 stand-alone retail stores of Himalaya and every year, it opens about 15-20 new stores.