In a bid to grow its outreach, Elder Healthcare, the FMCG wing of Elder Pharmaceuticals plans to expand its product portfolio in the oral care and personal care segment, with a special focus on the emerging male grooming category, The company will also bring international brands in the country to expand its range."This year, the aim is to consolidate our brand portfolio and introduce products in the men’s grooming category and other personal and oral care products,” Anuj Saxena, Managing Director, Elder Health Care Ltd said.
The company, has also tied-up with German colour cosmetic brand 'BeYu', to launch a range of premium colour cosmetics in India . Imported and marketed by Elder Health Care Ltd., the colour cosmetic range will comprise of mineral make up, lipsticks, foundations, eye shadows, mascaras, eye liners and nail enamels. The makeup range will have approximately 127 SKUs and will be launched across prime retail chains across the country. Elder has already tied up with Lifestyle retail chain for a shop-in-shop format. The products will be priced between Rs 500 - Rs 1,000. The company is also looking at more international tie-ups to expand its product basket.
“The cosmetics and toiletries market is growing at an estimated 6.3 per cent, while the make-up category is growing at an estimated 29 per cent ,” Saxena said adding: “The total Indian make-up market is estimated at Rs 950 crore, the premium make-up category is growing the fastest at an estimated 32 per cent. We are targeting a double digit market share.”
Elder Healthcare's current portfolio includes products such as face cream FairOne, Fair One Man, Tiger balm and Blistex among others. The company hopes to clock a turnover of around Rs 120 crore this year as against, Rs 70 crore in FY08.