Home Latest News Godrej eyes global market for 50 pc of total sales

Godrej eyes global market for 50 pc of total sales


Consumer Products Ltd () is on an acquisition spree. After acquiring Strength of Nature LLC, the US-based hair care products company, Godrej is now expecting the international market to account for more than half of its sales.

Godrej eyes at global market for 50 per cent of total sales
Godrej Consumer Products Ltd , after aquiring Strength of Nature is now looking forward to African companies

The FMCG giant had disclosed the acquisition of Strength of Nature LLC last week, though they did not reveal the sum of amount it settled for. The acquisition process will be completed in another two weeks.

“Post this acquisition, the contribution of the international business to GCPL’s overall revenues will be 50 per cent or slightly more. India will continue to be a big focus for us and our largest market.” GCPL Managing Director Vivek Gambhir was quoted by PTI as saying.

Domestic sales of Godrej contribute 53 per cent of GCPL business and 47 per cent comes from international business. By FY15, GCPL’s total income was Rs 8,367.87 crore.

After the US, GCPL is eyeing at Africa for growth opportunities, as it accounts for one-sixth of GCPL’s total business.

“The acquisition fits in very well with GCPL’s priority to accelerate our growth in Africa and be the leading player to serve the needs of women of African descent. As part of our 3 by 3 strategy of international expansion, Africa is one of our main focus areas,” Gambhir was quoted by PTI as saying.

GCPL with a strong record of acquisitions in global markets has Nigeria’s Tura soap brand, Indonesian Megasari Group, Argentia’s hair care firm Argencos and Issue Group, a market leader in hair colour in Argentina, Peru, Uruguay and Paraguay and many others in its list.