Financial Daily from THE HINDU group of publications
Thursday, Nov 11, 2004
Financial Daily from THE HINDU group of publications Thursday, Nov 11, 2004 |
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Marketing
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Awards & Honours Ad Club confers distinguished service award on CavinKare CMD Our Bureau
Mr C.K. Ranganathan (left), Chairman and Managing Director, CavinKare Pvt Ltd, receiving the Advertising Club Madras's Distinguished Service Award from Mr N. Murali, Joint Managing Director, The Hindu, at a function in Chennai on Wednesday. — Bijoy Ghosh
Chennai , Nov. 10 THE Advertising Club Madras today conferred its Distinguished Service Award for 2004 on Mr C.K. Ranganathan, Chairman and Managing Director, CavinKare Pvt Ltd. Mr N. Murali, Joint Managing Director, Kasturi & Sons Ltd, publishers of The Hindu group of newspapers, said that the story of CavinKare belonged in the realm of business school case studies. Tracing Mr Ranganathan's journey to success, Mr Murali said that CKR, as he is popularly known, started his company Chik India, now CavinKare Pvt Ltd, in 1983 at the age of 23 with an initial capital of Rs 15,000. Mr Murali said that the 44-year-old Mr Ranganathan and his fast-growing but relatively small company had successfully taken on the behemoths of the fast moving consumer goods (FMCG) world. This Rs 263-crore company is growing at a rate of 30 per cent and has the best brand launch success rate in the FMCG industry, he said. Some of the major brands owned by the company figure among the top brands in their respective categories - Chik, Nyle, Meera, Fairever, Indica and Spinz. Chik sachet shampoo is the No 2 brand in the shampoo segment with a 23 per cent market share, he said. Fairever with a 13 per cent market share in the Rs 700-crore fairness cream market is next only to Fair and Lovely, Mr Murali said. Mr Murali said that the CavinKare business model has been different from the start. The manufacturing was outsourced, as Mr Ranganathan recognised that there was idle capacity in the FMCG industry. The company entered the market as a regional player with new products. The core of the strategy was to identity gaps in the market, move in to plug the gaps by working around competition and then brace itself for the inevitable direct confrontation with a competitor's brand, Mr Murali said. Today the company has a national reach of over 10 lakh outlets and about 2,000 stockists, he said. Mr V. Kalidas, President, Advertising Club Madras, said that the award is given to individuals who make an invaluable contribution to the advertising industry, who pioneer new concepts and blaze new trails. The earlier recipients of the award were Mr R.K.Swamy in 1994, Mr N. Murali in 1995, Mr V. Narayanan in 1998 and Mr S.R. (Mani) Aiyer in 2001.
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