Chennai-based FMCG major CavinKare has entered into a distribution deal with Paris-based international fragrance marketer Coty to market and distribute two of its brands across India. As part of the deal, CavinKare will distribute Coty’s Adidas and Jovan range of personal care products. Adidas men’s range comprises deodorants, shower gels, perfumes and after-shave lotions, where as Jovan range include fragrance and personal care products.
Addressing the media, Venkatesh Babu, regional managing director — far east export, Coty Beauty, said, “There is a huge potential in the personal care segment here. The alliance will help in increasing the accessibility of Adidas products in India, which is a fundamental part of our Asian strategy.”
CK Ranganathan, CMD, CavinKare, said, “CavinKare mainly addresses the mass market. The strategic alliance will help us get into the premium segment, where we did not have presence.”
CavinKare is expecting a turnover of Rs 500 million in the first year and holding around 10 per cent share of the deo-spray and fragrance market in India, which is estimated to be Rs 3 billion.
However, the company plans to cut prices of its personal care products at around five per cent anticipating acute competition in the market. “Competition will drive prices down. By the end of the year, prices could be lower by as much as 15 per cent,” concluded Ranganathan.
— IndiaRetailing Bureau