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Purvita Chatterjee

Mumbai, Aug 2 To tap new international markets, Shahnaz Herbal is planning to set up liaison offices in West Asia and South-East Asia. In the UAE, Dubai will be the base for the brand to service the African nations while Malaysia would serve as the hub for catering to markets in South-East Asia including Japan and Thailand.

Shahnaz Herbal is also strengthening its operations in the Korean market, having witnessed increasing demand for its products in the past year.

Speaking to Business Line, Mr Sharik Currimbhoy, Vice-President, Shahnaz Herbal, said, “Today, 5-6 per cent of the turnover comes from international markets. We would be setting up subsidiaries in markets where we get certain volumes.”

In the past, Shahnaz Herbal set up a subsidiary in the UK where it had also set up 30 salons to service this market. Now, Korea is emerging a lucrative market for the brand and the company has found a distribution partner in this region. “Last year, Korea emerged as a large market for us. We have already supplied a huge contract to this market,” says Mr Currimbhoy. With intentions of setting up sales and liaison offices in some of these countries, the herbal company would graduate to setting up more subsidiaries in the future.

Injecting more funds into the company, Shahnaz Herbal has already roped in private equity partners to fund its future expansions into the international markets.

Meanwhile, in the domestic market, the herbal company intends beefing up its mass range under the brand ‘Shanaz Forever’. Having launched its fairness cream — Fair One — with Elder Pharma, it now intends stretching its mass range to more skin and hair care products. However, this time, it may not associate with Elder Pharma and launch the new mass range on its own.

The company has already earmarked an investment of Rs 60 crore for its new mass range in the anti-aging skin care segment. The plans include setting up a new plant in Uttaranchal.

“The new mass range would have products in the anti-aging segment and would be priced less than Rs 100,” says Mr Currimbhoy. In fact, the anti-aging segment has been growing in the Indian market.

As Mr Currimbhoy observes, “Both internationally and nationally, anti-aging products are the need of the hour. India is a dynamic market and the pie is getting bigger in this segment with MNCs launching their respective brands.”

In the recent past both Procter & Gamble (Olay) and Hindustan Unilever (Pond’s) have launched anti-aging ‘masstige’ brands from their international portfolios.

More Stories on : Strategy | Alternative Medicines

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