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P &G India forays into the booming skincare market, launches its $ 2 Bn brand, Olay

Tuesday, July 24, 2007

The slow and steady P&G India has entered the booming skincare market. After a year of speculation, the company has finally launched its $ 2 billion brand, Olay.

To catch them young will be P&G India's challenge as it debuts in skincare market. A range of four products from the iconic Olay stable will be available soon. While that includes a fairness cream, moisturizer and cleanser its Total Effects the anti-age solution that will be the flag bearer of the Olay brand in India. With this the company has entered the Rs 2100 crore skin care market and focused on the Rs 450 crore premium end. The Olay range will be imported from Thailand. At Rs 399 for the 50 ml bottle price will have an important role to play.

Sumeet Vohra, Marketing Head, Procter & Gamble India said, “it makes sense from an economic standpoint and more and more women…”

P&G will have to counter brands like HUL's Ponds, L'Oreal and Kaya. But with skincare growing at 16% and the anti-aging segment doubling in the last three years, there may be something for everybody. The growth of modern trade outlets will also come help. In its over 20year long innings in India, P&G has launched only 9 brands from its stable of 100 odd brands worldwide. But does the Olay launch signal that P&G will finally shed its slow and steady tack in India?

Sumeet Vohra further said, “In current business, there is lot of unfinished business and there is room for growth. We cannot shrink from responsibility and there needs to be a balance.”

14 years post launch, P&G's detergents have a combined market share of 12.3% and shampoos at 25%. Analysts believe that the low-profile fast moving consumer goods may just be looking to speed things up.

Posted by FR at 10:01 PM  

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