NEW DELHI: FMCG major Bajaj Consumer Care has plans to move its focus from a single brand — its flagship product Bajaj Almond drop hair oil — to establishing new brands in a bid to tap into the larger premium personal care space. The managing director of the company, Jaideep Nandi, in an interaction with TNIE, said the company plans to launch multiple products in skin-care and hair-care categories, which people can recall beyond almond drop hair oil.
For Bajaj Consumer Care, says Nandi, one of the key advantages and disadvantages has been its one single brand. “It’s a single product the focus and energy has been on and the product expansion for the organisation has been stunted.” As part of its expansion strategy, the company has plans to fire on three legs — expanding the hair oil portfolio, building new brands and bringing almond oil in new formats.
“You will see a comprehensive umbrella of Almond drops in personal care in multiple formats like serums, lotions and shampoos etc. The launches will be graded,” he said. The company launched its Bajaj almond oil moisturising soap on Tuesday as an extension of this plan. “The 90% saliency that almond oil has for the company today should go down while the product keeps on growing, as new brands become larger,” he said. Talking about Bajaj Almond oil’s market share, Nandi says it has hovered between 9.7% to 10.3% over the years, so it’s flat if you look at the overall 13,000 crore market. “We are looking at penetration in the southern markets, presence in LUPs to grow the market share in the category.”
In the Rs 13,000 crore hair oil market, the company plays in the Rs 2000 crore light hair oil category, notes Nandi. The company has launched two Digital-first brands - Natyv Soul and Bajaj Pure - just seven months ago.
On acquisitions, Nandi says, “If it could help fulfill plans of either completing a range of hair oil or getting further deep into the personal care category, or can add value in geographies where the company is weaker, then we’ll look at it. In the D2C space we’ll also keep on very closely observing and if we feel that there is some attractive opportunity there for us, that is clearly an option.”
Nandi says the rural economy is a little stressed in terms of demand conditions. However, he adds, “I think it’s more of a transient thing rather than long-term.” Middle packs are suffering, he said, as consumers are moving to either low-unit packs or value-seeking packs. “We are investing in larger packs as they are performing well.” He also notes that more affluent economies like the South and Maharashtra seem to be doing a little better.
Plans new product line
Company plans to launch multiple products in skin-care and hair-care categories, which people can recall beyond almond drop hair oil. It has launched 2 Digital-first brands - Natyv Soul and Bajaj Pure - just 7 months ago