Emami Group on Wednesday said it will invest about Rs 220 crore for expansion in the FMCG segment, which includes acquisitions in personal care and healthcare space and product portfolio enhancement through forays into new categories.
The company, which is eyeing over Rs 500 crore of revenue in the next 3-4 years by foraying into new segments like babycare, haircare and expansion in men's grooming categories, has also renewed its advertising contract with Bollywood superstar Amitabh Bachchan for another three years.
"We are actively looking for acquisitions in the personal care and health care segment. About Rs 100 crore has been earmarked for the purpose," Emami Group of companies Director Aditya V Agarwal told PTI.
He, however, added an acquisition was not in the horizon right now, but said the company was "actively looking out for opportunities".
On product portfolio expansion, Agarwal said Emami would launch 18 new products this year in hair care, baby care and men's grooming segments.
He said the company invests Rs 120 crore on brand investments every year, out of which Rs 40 crore would be spent on the new launches.
"We have also renewed our contract with Amitabh Bachchan for endorsing our products for another three years," he said, adding fees for the superstar was over and above its total promotion budget.
Agarwal said the new range of products from Emami would include hair pack, hair dye and shampoo, which is expected to be launched in the next five months.