Elder Health Care (EHCL), part of the R800-crore Elder group, has entered into a licensing agreement with Japan’s $1.6-billion (R7,300-crore) Pola Chemical Industries. The latter is a skincare, bodycare and cosmetic products manufacturer and the joint venture will introduce skincare and cosmetic products in India.
“We will launch a whitening range through Over-The-Counter as well as dermatologist and cosmetologists route within the next two months,” said Anuj Saxena, managing director, EHCL. “We are targeting the high-end, socially- active consumers.”
EHCL is targeting sales worth R7 crore from these products by the fifth year of launch.
The organised skin care segment is currently valued at R2,300 crore and is growing at 20 per cent per annum.