Godrej Consumer Products eyes Rs 1 bn turnover in hair products segment

Godrej Consumer Products (GPCL) is eyeing Rs 1 billion turnover in the professional hair products segment in the next three years, a senior company official said.

"The professional hair products market currently is about Rs 12 billion and our company is aiming to do a business of Rs 1 billion in the next three years," GCPL's Associate Vice President - Professional Business, Ketan Takalkar told reporters here on Wednesday.

He said the company entered the professional hair products segment with the launch of a new brand -- Godrej Professional -- in July last year.

"In July 2017, we had launched it in four big cities. Now we are present in 11 cities across the country including Chandigarh, Ludhiana and Amritsar," he said, adding the company's products will be available through the salon channel and not the retail market.
 

Takalkar said by 2020, the professional hair products market is expected to grow to Rs 14 billion.

This market is growing at a healthy rate of 8-9 per cent," he said.

Replying to a question, he said the salon services market in the country is estimated to be worth around Rs 120 billion, out of which the bulk comprises hair-related services.