New Delhi: Aiming to cash in on the burgeoning domestic fragrances market, Modi-Revlon, a joint venture between the Modi group and international cosmetics firm Revlon, will start its production unit for perfumes in India by June.
“We are looking at strengthening our position in the Indian fragrances market. Our new unit at Modinagar in Uttar Pradesh will go onstream by June,” Modi-Revlon Senior Manager Marketing Amit Kumar Ghatak told PTI.
He said the company would manufacture body sprays, Eau de Toilette (EDT), colognes and aftershave lotions in its new facility at Modinagar.
With local production, the company expects a more cost efficient production of all ranges of fragrances and provide tester pieces as well, he said. Riding on the benefits of local production, the company is eyeing the third largest share of the fragrances market, he said.
Ghatak said the company is also planning to expand its product range by introducing new fragrances that were set to hit the market in September.
“We have introduced new sizes and gone for a marketing mix with revised packaging of the products,” Ghatak said. Modi-Revlon’s fragrances product portfolio currently consists of Charlie Cologne, Fire and Ice cologne, Jean Nate after bath splash, Ciara Cologne, Enjoli Spray and Jontue cologne.
In terms of market share, Ghatak said, presently the company did not enjoy a strong presence in the body spray segment, while in the Eau de Toilette (EDT) segment it had 35% share.
Modi-Revlon, a 76:24 joint venture between Modi Group and Revlon, currently has one unit at Guwahati, which manufactures colour cosmetics.