Textile major Raymond has carved out a fast moving consumer goods (FMCG) group to extend the eponymous apparel brand to over a dozen personal and home care products. The company already has JK Helene Curtis, which sells Park Avenue deodorants, and JK Ansell. The new division will house Raymond products, along with new brands spread across skin and hair care segments.
“Our vision is to be player of choice amongst the emerging and enterprising India for their daily, personal and home care needs. We are a premium lifestyle products group, committed to offer innovative products to the rising youth of India,” Gautam Hari Singhania, chairman of Raymond said.
The country’s beauty and personal care market is worth Rs 75,000 crore and registered a 16 per cent growth over the past five years, according to Euromonitor. Growth tapered off last year due to sluggish consumer demand for mass products, which account for the majority of the segment’s sales.
“We plan to build great brands, take significant innovation, make new categories entry, explore the market and create a robust supply chain,” Giriraj Bagri, company’s new president said.
Raymond has significant interests in textiles, apparel and retail. Its consumer products division accounts for less than 15 per cent of its total annual revenue of Rs 5,600 crore.
India’s beauty and personal care market is worth Rs. 75,000 crore and registered a 16 per cent growth over the past five years, according to Euromonitor.