Music channel MTV India, which announced its foray into the personal care segment today, expects to capture 2% share of the Rs 3,000 crore body sprays and perfumes market in the next one year.
"MTV is a brand for the youth. The personal care category in India is a Rs 3,000 crore market and growing at 30% for the last few years. It is a very significant category for us," Viacom18 Senior Vice President Sandeep Dahiya told PTI.
The range of body sprays and Eau de Toilette (EDTs), comprising of six fragrances, has been launched in partnership with Global Fragrances, he said adding that the products will be priced between Rs 150 to Rs 499.
Global Fragrances will manufacture and market the products for MTV India.
"In the first year, we are targetting a 2% market share, while growing it to 7% by the end of the third year," Global Fragrances Managing Director Somesh Choudhary said.
Over the next few months, both MTV and Global Fragrances plan to market the products across platforms -- retail, TV, digital, print, on-ground and films. However, the marketing budget was not disclosed.
MTV is already present in product categories like footwear, apparel, adventure bikes, eye wear and other consumer product categories and plans to enter into more categories like lingerie and condoms.