Business Daily from THE HINDU group of publications
Friday, Oct 26, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Oct 26, 2007 ePaper | Mobile/PDA Version |
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Marketing
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New Products & Services Web Extras - Personal Products Godrej to unveil new products Divya Trivedi Mumbai, Oct. 25 FMCG major Godrej Consumer Products Ltd will introduce hair oil, toothpaste and detergent to their portfolio of household and personal care products, according to Mr H K Press, Executive Director and President. With a substantial market share of 34.9 per cent in the hair colour business, GCPL sees it as a logical step to expand its portfolio by entering the hair oil business. The company plans to focus on the overseas market for hair colour and will expand the hair oil segment domestically. "We are present in UK and Africa and have now acquired Godrej Global Mideast FZE at Sharjah to distribute our products. We are open to making more acquisitions in the UAE and anywhere where people have black hair, from the Far East to Latin America," he said. The company recently acquired Rapidol South Africa, getting over 86 per cent share of the fast growing South African ethnic hair colour market. Price rise GCPL is present in sectors of toiletries, hair dye, fabric care, baby care with soaps being the prime products. The company's market share in soaps is 10.2 per cent, while that in liquid detergents is 78.5 per cent. To counter the rising prices of palm oil globally, the company increased the prices of its soaps by six to eight per cent. "As of now, we are covered for oil rate hike, but pressures may build up again in March-April," he said, adding that GCPL might have to hike soap prices after a review of the period. The company rode on greater volumes and higher soap prices to a net profit of Rs 33.69 crore up 28 per cent for the second quarter this year as compared to Rs 26.14 crore for the same period last year.
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