Financial Daily from THE HINDU group of publications
Saturday, Aug 14, 2004
Financial Daily from THE HINDU group of publications Saturday, Aug 14, 2004 |
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Marketing
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Strategy Cavinkare to take Meera national Our Bureau
Chennai , Aug. 13 THE Chennai-based Cavinkare Pvt Ltd plans to take its Meera hair care brand national with the launch of Meera Herbal Hair Oil. The launch will be backed by a Rs 10-crore campaign spread over a nine-month period. Mr K. S. Ramesh, Executive Director and Chief Executive Officer, Cavinkare, said that the Rs 300-crore company had been waiting for the right product to go national. The brand Meera is perceived to have a pan-Indian identity and it would be easy to market the product in the North. The latest offering contains coconut oil with hibiscus, amla, henna, khus khus and fenugreek. Each bottle has a visibly suspended porous cylinder containing these ingredients and the oil derives its nourishing properties on a continuous basis. He said that in the second phase the company would be looking at distribution in the salons. Mr Ramesh said that the hair oil market in India was about Rs 1,800 crore in value terms, of which the value-added oils constituted almost 50 per cent. The value-added coconut oil segment commanded a price premium over the pure coconut oil, he said. It is priced at Rs 30 for 100 ml and Rs 58 for 200 ml. He said that the segment was growing at a rate of 11 per cent, while the hair oils had a growth rate of 4 per cent. The fast moving consumer goods company will also relaunch some of its other products such as Nyle and Meera shampoo later this year
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