Financial Daily from THE HINDU group of publications
Thursday, Feb 23, 2006
Financial Daily from THE HINDU group of publications Thursday, Feb 23, 2006 |
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Marketing
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Strategy Incense stick major NRR to enter lifestyle segment Anjali Prayag
Bangalore , Feb. 22 THE Mysore-based N. Ranga Rao and Sons, a market leader in the Rs 1,000-crore incense stick industry, is scenting new trails. In the next two months, this Rs 100-crore company will foray into the lifestyle segment with its pot pourri, scented candles, scented oils and other air care products, some of which are already being sold in the export market. The initial test market reports from Bangalore and Pune have been encouraging, Mr Arjun Ranga, Managing Partner, M Ranga Rao and Sons told Business Line. Priced between Rs 350 and Rs 700, these products would be sold through big chain stores. The non-traditional incense market in the country is mainly export-oriented and worth about Rs 100 crore. NRR is looking at a domestic business of Rs 15 crore in the next three years from this segment. NRR's export brands such as Nature's Gift, Ethnic India and Woods may be retained for the Indian market, though the branding process is still going on, Mr Ranga said. Tube rose extracts from NRR's production centre in Mysore is going as inputs to large perfume houses (Christian Dior, Chanel, and so on) in Europe. NRR has a 7-8 per cent share of the domestic agarbatti industry, with Cycle as its umbrella brand. "Its still a highly unorganised sector and entry into the industry is very easy," Mr Ranga said. The last few years has also seen the entry of big players such as ITC and HLL into the industry.
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