Havells India, India’s leading electrical equipment manufacturing company in India, is all set to make its entry into the personal grooming segment with the launch of its new line of personal care prodcuts.
Last Wednesday, the company announced the launch of high quality personal care products such as Beard Trimmers, Hair Straighteners, Electric Shavers, a Grooming Kit including Precision Nose & Ear Hair Trimmer, Dryers and Bikini Trimmers in India. The products are priced within the range of Rs. 1000- Rs. 7200.
Over the next three years, Havells aims to capture 25% of the market share. It also plans to expand its business by launching baby care products by first quarter of FY17-18.
Havells will import these personal grooming products from countries like Hong Kong, China, Indonesia etc. The products are developed considering the growing needs of Indian consumers with a perfect blend of unique designs and latest technology. Consumers can experience style, safety durability and convenience – the hallmark features of Havells products.
Quick Growth in Personal Grooming Segment in India
The personal grooming segment in India is growing at a fast rate of 25% to 30% per annum. Currently, the growth in this segment is estimated at Rs. 1,500 crore. Hence, the company is quite hopeful about its entry into personal care products.
Commenting on the same, Anil Rai Gupta, the Chairman & Managing Director of Havells India Limited 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.”
Saurabh Goel, the Executive Vice President at Havells India Limited, says that “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.”
Havells expects a fast growth in this segment given the increased focus on personal grooming is noticeable among the Indian youths, both in urban and rural areas. India has more than 50% population below the age of 25 years and 65 % below the age of 35 years. Increased interest in personal grooming, growth in population and increase in disposable income among youngsters are some of the factors that’s going to set a fast growth for Havells.
Havell’s personal care products will be available in all major cities of India at pharmaceuticals, cosmetics stores and multi-brand retail stores in addition to Havells-owned electrical stores. Consumers can also access these products at over 400 exclusive Havells Galaxies where they can touch and feel the products. Havells will release the whole range of these products in India by end of March, 2017. It will also sell these products on leading online e-commerce platforms.