Ambitious Godrej sniffs growth opportunity in air fresheners
Godrej Consumer Products Ltd (GCPL) on Monday announced its entry into the fast-growing air freshener category with an aim to woo the urbane Indian consumer who has hitherto used traditional products such as incense sticks (agarbattis).business Updated: Jul 09, 2012 23:14 IST
Godrej Consumer Products Ltd (GCPL) on Monday announced its entry into the fast-growing air freshener category with an aim to woo the urbane Indian consumer who has hitherto used traditional products such as incense sticks (agarbattis). The introduction of fragrance products under its new brand “aer” comes after 2009, when GCPL sold its Ambipur brand to Procter&Gamble.
The move forms part of the company’s three-pronged strategy — increasing its presence in emerging markets across Asia, Africa and Latin America through its three core categories of personal wash, hair care and home care.
The company already has a strong presence in personal wash and hair-care segments with popular brands such as Cinthol soap and Godrej hair dye, among several others.
The company is banking on Indians’ stong cultural preferences for its “aer” brand.
However, the air fragrance market is yet to take off in India, said Nisaba Godrej, president human capital and innovation, Godrej Group. While globally the air fragrance market is estimated at around $7.5 billion (R42,000 crore) the same in India is a mere R1,200 crore. “Even the Indonesian market is thrice the size of India at present,” said Godrej.
But all that seems to be changing, thanks to the new Indian lifestyle fuelled by increased urbanisation, which has already led to a demand surge for air fragrance products.
The Indian market is growing at a robust pace of 20% year-on-year and the company plans to grab around 7% of the market over the next 12 months, said Godrej, adding, the company plans to export its products under the “aer” brand to Nepal, Sri Lanka and West Asia.
First Published: Jul 09, 2012 23:13 IST