Financial Daily from THE HINDU group of publications
Monday, May 10, 2004
Financial Daily from THE HINDU group of publications Monday, May 10, 2004 |
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Corporate
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Announcements Marketing - New Products & Services LG to spend Rs 30 cr to promote FMCG Our Bureau
Mr C.H. Kim, Global Vice-President, LG Care; Mr Vijay R. Singh, Managing Director, India Household and Healthcare Ltd, and Mr B.K. Jung, General Manager-Overseas, LG Care with the company's products in Chennai. — Bijoy Ghosh
Chennai , May 9 LG Care, a part of LG Group, will spend Rs 30 crore to promote its brand of soaps, detergents, shampoos and other fast moving consumer goods (FMCG) in the Indian market. Mr Vijay Singh, Managing Director, India Household and Healthcare Ltd, the sole licensee of LG Care in India, said that LG has invested Rs12 crore in India to set up the business. India Household and Healthcare was incorporated in November 2003 in Bangalore. LG Care has expertise in healthcare, personal care and the grooming industry. The products, which will be imported from Korea, are manufactured for Indian conditions. The goods attract 56 per cent duty. The products are all in the premium category and the company will not be getting into any kind of price war, he said. Mr Singh said that the company aimed to be one of the top three players in the Indian FMCG market by 2006. The distribution channels are in place in most parts of the country and the products will be available in all metros, mini-metros and major towns by July. The company has appointed 40 distributors and 25,000 retailers in Tamil Nadu, a key market in the South, he said.
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