Financial Daily from THE HINDU group of publications
Saturday, May 25, 2002

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Modicare eyes global markets

Neha Kaushik


THE Indian direct selling and marketing company, Modicare Ltd, has plans to spread its wings beyond the country. According to Mr Samir Modi, President and Managing Director, Modicare, the company is currently studying the markets of some SAARC countries to launch its products.

Depending on the feasibility of the market, the company will decide whether to export its products or set up its own production facility. Among other countries, Modicare is planning to export its products to Bangladesh. "We would be making our foray abroad within the next year-and-a-half," says Mr Modi. Meanwhile, the company is planning to increase sales in the domestic market as well.

It is targeting an 81 per cent growth in sales this fiscal, up from Rs 180 crore last year, by attracting a wider range of consumers through new launches and by conducting various promotional activities.

The company is going to launch a range of products such as shaving cream, after-shave lotion, body spray among others under the brand names `Smooth' and `Velocity'. The price range is reportedly much cheaper than those offered by other direct selling companies for similar products. For instance, a 70gm pack of shaving cream can be bought for Rs 60, while a Velocity body spray would be in the range of Rs 175 for 125ml.

On the reasoning behind entering the men's grooming market, Mr Modi says that the segment has huge potential for growth in India, although currently the market is in the nascent stage. Modicare would also be launching a skincare range for men soon.

Other than launching new product variants in the existing categories, Modicare will also be introducing a new brand in the herbal skincare category under the name: `Fruit of the Earth'. The company has also tied-up with Symphony to distribute the latter's products (mainly air-coolers) through its distribution network. On the synergy between the product ranges of both the companies, Mr Modi says that Modicare aims to be a `one-stop-shop' for various items.

The company will undertake delivery of Symphony products within 48 hours of placing an order. Modicare will also be conducting various promotional activities to create awareness for its products. It is planning to launch its ad campaign, designed by its agency Equus Advertising, in the print medium soon. It will also be conducting educational campaigns for its distributors.

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