FMCG firm Bajaj Consumer Care has roped in global management consultancy Bain & Company to speed up the growth of its hair oil brands.
Bajaj Consumer Care Ltd, which was earlier known as Bajaj Corp Ltd, said Bain will help it control costs and form strategies to push growth of its hair oil business.
The company's hair oil brands include Bajaj Almond Drops, Bajaj Kailash Parbat and Bajaj Brahmi Amla.
"Bain & Company will help our company plan to grow our hair oil brands faster. They will be using their well respected BBA or Bain Brand Accelerator model to guide us towards faster growth," Bajaj Consumer Care Managing Director Sumit Malhotra told analysts in a conference call.
Malhotra said Bain & Company, which has come on board from April 1, has been mandated to look at the hair care business and it may or may not be engaged for the overall company strategy.
"The first part that we have set out is only on hair oil, further we may and may not engage with the overall company strategy.
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"Currently we are only looking at hair oil and what can we do to increase the rate of growth in hair oil which we are currently around 10 per cent market share," Malhotra said.
The size of the hair oil market is around Rs 13,000 crore in India, he added.
Bajaj Consumer Care is also present in the skincare category after it acquired NoMarks brand from Ozone Ayurvedics in 2013.
In fiscal 2018-19, Bajaj Consumer Care reported a net profit of Rs 226.13 crore and total income of Rs 926.89 crore.
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