Sluggish urban demand in deodorant has forced McNore Consumer Products, owner of leading personal care brand Wild Stone, to introduce a new brand focused on the rural segment.
"As part of multi-progned strategy to buck slowdown in Rs 2,500 crore deodorant market, we are also contemplating a new brand that will be focused at rural market," McNore director N K Daga told PTI.
"There is volume de-growth of about 5-6 per cent since last 5 to 6 quarters against a growth of as high as 40 per cent in the past," he said.
"In the past as growth in the urban market was so robust we did not focus on the semi-urban and rural markets. But now we think even the rural market is gradually spending on personal care products, a focused brand for the market is been considered," Daga said.
Besides, a separate brand of small pack sizes will also push rural sales, officials said.
For Wild Stone company it will move the value chain by diversifying the personal product range, tapping modern retail, online sales and foraying into newer markets including overseas, Daga said.
"Wild Stone is a male grooming brand and aims to reach a turnover of Rs 500 crore by 2017-18 from a current revenue of Rs 200 crore the brand generates out of the company's topline of Rs 300 crore," he said.
The company is also focusing at exports in the Saarc countries, Africa and Middle East.
