From detergent bar that saves water to liquids for washing machines, FMCG major HUL is focusing on innovation to drive premiumisation with an aim to strengthen leadership position in laundry segment.
The company, which sells a range of brands such as Wheel, Rin, Surf Excel and Comfort in the segment, sees a huge scope for premiumisation with more consumers looking for products with higher benefits driven by rising income.
There is a "huge scope for premiumisation" as "only one in ten washes uses an HUL premium laundry powder", HUL CEO and MD Sanjiv Mehta said in an investor presentation.
The company is aggressively driving premiumisation to strengthen position in laundry. Its strategy revolves around "consumer centric innovations".
For instance, HUL said there has been "increasing instances of drought" and on the other hand rinsing accounts for 30 per cent of daily water consumption.
It has thus developed new version of its popular 'Rin Bar' based on "water saving technology that delivers superior brightness".
The company claims the new Rin Bar consumes half the water while giving more shine to clothes.
For value segment consumers, HUL has also come up with Wheel 2-in-1, which it claims has dual benefits of deep clean and malodour removal that has helped it in "turning around the segmental share trajectory".
Similarly, the company has also developed 'Surf Excel Matic Liquid' to cater to the needs of consumers who use washing machines.
In the year ended March 31, 2017, the company's home care segment, under which laundry products come, had a revenue of Rs 11,346 crore as against Rs 10,813 crore in the previous fiscal.
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