Elder Healthcare today said it plans to expand into the skincare market by rolling out its own brand this fiscal, as part of its strategy to achieve a turnover of Rs 300 crore by 2013.
The company, which mainly sells brands of other companies under an exclusive licensing arrangement, said it is also looking at expanding in the oral care category.
"After growing our distribution network, we are now looking at a balanced portfolio of own and licensed products," Elder Healthcare Managing Director Anuj Saxena in a statement.
At present, Elder Healthcare has the exclusive license to sell brands like Tiger Balm, Shahnaz Hussain's Fairone Fairness Cream, VLCC's Fuel for Men deodorant and Australia-based Rye Pharma's Burn Aid anti-burn gel, among others.
While the company is planning to extend its own 'AMPM' mouthwash brand in the oral segment, it is developing a range of skincare products, which will be rolled out under a new brand, he added.
At present, AMPM mouthwash contributes only 4 per cent to its turnover. It plans to extend the brand into toothbrushes, toothpastes and teeth whiteners, the company said.
"With this, the company expects to achieve a turnover of Rs 300 crore by the financial year 2013 from the current Rs 80 crore," it said.
In the skincare segment, the firm said it plans to launch 14 new items in areas like moisturisers, sun screens, anti-ageing and under-eye gels in a phased manner, starting from the fourth quarter of this fiscal.
The company said it expects around 50 per cent of its revenue to come from its own brands in the next three years.
The company also said it plans to strengthen its distribution network of about 3 lakh outlets by adding another five lakh outlets, primarily in semi-urban and rural markets.
