Godrej Consumer Products (GCPL) is eyeing Rs 100 crore turnover in the professional hair products segment in the next three years, a senior company official said.
“The professional hair products market currently is about Rs 1,200 crore and our company is aiming to do a business of Rs 100 crore in the next three years,” Ketan Takalkar, GCPL’s Associate Vice President – Professional Business told PTI.
According to a PTI report: He said the company entered the professional hair products segment with the launch of a new brand — Godrej Professional — in July last year.
“In July 2017, we had launched it in four big cities. Now we are present in 11 cities across the country including Chandigarh, Ludhiana and Amritsar,” he was further quoted by PTI as saying, adding the company’s products will be available through the salon channel and not the retail market.
Takalkar said by 2020, the professional hair products market is expected to grow to Rs 1,400 crore.
“This market is growing at a healthy rate of 8-9 percent,” he was further quoted by PTI as saying.
Replying to a question, he said the salon services market in the country is estimated to be worth around Rs 12,000 crore, out of which the bulk comprises hair-related services.