The Bangalore-based Himalaya Drug Company has decided to group its products under the umbrella brand 'Himalaya'. The company is a major player in the ayurvedic drugs segment.
Under the plan, the company's popular brands such as Liv 52 and Ayurvedic Concepts, and a host of animal health products will now be known as 'Himalaya'. Rolled out today in 52 countries, the brand is expected to convey the herbal essence of the products to consumers.
"We have seen a surge in the movement of our products in the last month and we think the name change will command good brand equity for Himalaya. Our in-house research has shown that consumers have already begun to associate the Ayurvedic Concepts brand with the name Himalaya. So it would be a natural extension to name all our products 'Himalaya'. We export our products to several countries and want to convey the herbal content factor through the name," said Ravi Prasad, president and chief executive officer, Himalaya Drug Company.
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"Ayurvedic Concepts has been doing well and has exceeded our growth projections by 10 per cent. We expect the range to clock an estimated Rs 39 crore sales this year," he said.
According to market research agency ORG, Liv 52 is the fourth biggest brand in India and has been approved by the Swiss Department of Health Care.
The domestic ayurvedic market is estimated at around $1 billion and is growing at 15 per cent annually. The global ayurvedic market has been estimated at $50 billion.
Himalaya Drug has also set up offices in the US and UAE to integrate its global branding strategy. The company has also formed marketing joint ventures with healthcare companies in Africa, Europe and South America.