Consumer health and hygiene products maker Reckitt Benckiser (RB) on Tuesday said it is foraying in the male grooming segment in India through its brand Veet. The FMCG major is among a host of companies that are eyeing a significant share of the fast growing male-grooming segment in India.
It has decided to expand its brand Veet’s portfolio with the launch of Veet Men Hair Removal Cream range in the country. The company has also roped in actor Kartik Aaryan to endorse the new product range as part of an aggressive marketing strategy.
Globally, the company has a strong presence in both male and female depilatory segments through the brand Veet. In India, so far the brand was focused on offering women-centric hair removal product portfolio.
Pankaj Duhan, Chief Marketing Officer, RB Health South Asia said, “ India is the largest market for brand Veet globally. We believe our foray in the male grooming segment will help grow the business of the brand exponentially and not just incrementally. This is not just a brand extension but a strategic focus to expand the brand’s reach to a new consumer group.”
He said that with evolving personal hygiene and grooming standards and growing awareness, the overall male grooming segment is growing at a fast pace in India. According to market research and insights firm Nielsen, the size of the male grooming segment has now touched the ₹5,000 core-mark in urban India, clocking a growth of about 12.3 per cent compared to last year.
“The male depilatory product segment is not yet well developed in India and is still in its nascent stage. There is definitely a strong need for men depilatory products in the market and males are actively seeking and searching for such products,” he added.
Talking about the distribution and expansion strategy for the male grooming product range, Duhan said, “ We will have a strong presence across the metros and tier-1 towns as well on the e-commerce channel. Based on the consumer feedback, we will look at launching new sizes and new formats. We will then expand the distribution deeper.”
Veet is among the key brands in RB’s portfolio in India and enjoys a strong market leadership in the in-home depilatory products segment . In recent times, it has been aggressively strengthening and refreshing the brand’s product portfolio to expand the consumer base.