BackCavinKare to foray into professional haircare products sector
CavinKare to foray into professional haircare products sector
Premium
Chennai: Fast moving consumer goods major CavinKare plans to foray into the professional haircare products sector, a top company official said on Wednesday.
As a pilot study, the company is testing the waters with the launch of “Raaga Professional" hair care products here today, the company CMD C. K. Ranganathan said.
“The professional haircare segment is witnessing a massive growth in increase in the number of salons and increasing trend of consumers wanting to look good. CavinKare would focus its resources to the needs of the large number of mid-segment salons", he told reporters here.
The city-headquartered company has been working on the range of haircare products for over three-year at its Research and Development unit in Guindy, he said.
“We have identified...this professional segment market value to be of Rs1,200 crore, with majority of them being contributed from the salons," marketing manager Saumitra Prasad said.
“Only 40% of the total market is contributed by organised professional players," he told the news agency.
Raaga professional products comprise shampoo, hair conditioner and hair color, he said, adding that the products have been launched in Chennai and Delhi as a pilot study for a period of six-month. “After that we plan to launch it Nationwide", he said.
In the first six months (of the launch of these products) the company is expecting revenues of about Rs2 crore, he said.
Ranganathan said noted hair expert Nisarg Mavani would be associated with Raaga Professional to train hairdressers from Chennai and Delhi for the launch.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
