Havells India Limited, a fast moving electrical goods (FMEG) company on Wednesday announced its entry into personal grooming segment.
The company has launched an array of high quality personal care product like Electric Shavers, Beard Trimmers, a Grooming Kit including Precision Nose & Ear Hair Trimmer, Hair Straighteners, Dryers and Bikini Trimmers.
It aims to capture 25 per cent market share in the next three years and also expand the category by launching baby care products, like baby hair clippers in the price range of Rs 1,000 to Rs 7,200.
Havells aims to successfully enter the baby care segment with its entire range by first quarter of FY17-18.
Speaking on the occasion, Chairman & Managing Director, Havells India Limited, Anil Rai Gupta said, “We are extremely delighted to foray into personal grooming segment that offers enormous growth potential. At Havells, it has never been about maintaining status quo but to understand pulse of the discerning consumer, evolve, innovate, enter new categories with best in line products and establish leadership position while setting new benchmarks in industry excellence.”
India has more than 50 per cent population below the age of 25 years and more than 65 per cent below the age of 35 years. It is expected that the average age of an Indian will be 29 years by 2020, compared to 37 years for China and 48 years for Japan. With rising young population, more disposable income and increased focus on personal grooming amongst Indian youth in both urban and rural areas, the category is set to grow at a fast pace.
The personal grooming segment in India is currently estimated at Rs 1,500 crore and is growing at a healthy rate of 25pc-30pc per annum. Developed around the evolving needs of the Indian consumers, Havells personal grooming range is a perfect blend of unique designs and latest technology that comes with hallmark features of Havells products- Style, Safety Durability and Convenience.
The products would initially be available in all major cities of the country and over 400 exclusive Havells Galaxies where consumers can touch and feel the products. The entire range would be available across the country by end of March, 2017. Apart from this, the company would be selling products through online e-commerce platforms.
Executive Vice President at Havells India Limited, Saurabh Goel said, “Personal grooming as a segment is experiencing swift and dynamic growth, largely driven by an expanding middle class and an increased interest in personal grooming. We realized that despite our brand’s strong recall and resonance among today’s youth, we did not have any specific products for them. The launch of our wide range of contemporary and top quality products under the personal grooming segment will bridge this gap and strengthen our connect with young consumers who are key to this fast growing category.”
“Apart from our traditional channels we will also expand our network and reach out to cosmetics, departmental and pharma stores where consumers will be able to buy our latest range of grooming products,” he further added.
With 43 branch offices and over 4000 professionals Havells has achieved rapid success in the past few years. Its 11 state-of-the-art manufacturing units in India located at Haridwar, Baddi, Noida, Sahibabad, Faridabad, Alwar and Neemrana are manufacturing globally acclaimed products, synonymous with excellence and precision in the electrical industry.