Beauty and wellness firm VLCC said it has entered into men’s grooming segment with the launch of ‘Ayush Men’ and is eyeing Rs 100 crore revenue in three years from the category.
According to a PTI report: The current range, which includes face wash, face scrub, shaving gel and moisturiser, is available in retail stores across India.
“We are looking to garner 20 per cent of product sales from the newly entered segment and a revenue of Rs 100 crore in three years,” M V Natarajan, Personal Care Chief Business Officer, VLCC told PTI.
The company said it aims to tap 10 per cent market share of the men’s grooming category in three years.
“With men paying more attention to their appearance and skin than ever before, the market for men’s grooming in India is expected to grow at a CAGR of over 17 per cent through 2020,” Natarajan was quoted by PTI as saying.
According to an Assocham report, the male grooming industry is expected to touch Rs 35,000 crore in next three years from current Rs 16,800 crore, due to rising aspiration among men to look better and rapid urbanisation.
Interestingly, men in the age group of 25-45 outpace women in spending money on grooming and personal care products, the report noted.