Wild Stone maker McNROE to expand women’s grooming portfolio

New Delhi: Having captured a substantial market share in men’s deodorant market, Kolkata-based McNROE Consumer Products that makes Wild Stone deodorants is eyeing the women’s grooming segment for the next phase of growth.

Over the next two years, the company is planning to build its women’s portfolio by introducing new fragrances in the deodorant and perfume space, and new products in the personal care space, in a bid to double revenue from the segment.

“Women’s products currently account for 20% of our overall revenue. In four-five years, we are looking at the segment accounting for 40% of our revenue. We are working on the products and we are going to be big in female grooming, led by fragrances,” said N.K. Daga, director at McNROE.

All new products will be launched under McNROE’s 11-year-old brand Secret Temptations. “We had launched Secret Temptations in 2005-06 but men’s has been the focus area so far,” said Daga.

At present, the women’s grooming portfolio includes deodorants (7 variants), perfume, talcum powder and face creams. Under the brand Wild Stone, the company sells soap, talcum powder, perfume (10 variants) and shaving products, apart from deodorants (18 variants).

Over the next 12 months, the company will be spending Rs25-30 crore on creating awareness and advertising women’s portfolio of products.

For the year ended March 2017, the company had recorded a revenue of Rs325 crore and is expecting to close this year at Rs400 crore. The idea, Daga said, is to triple revenue in the next four-five years. “For that, we are setting up a second production facility in Haridwar. We are also setting up a fragrance lab in Kolkata for perfumes, deodorants and other personal care products,” said Daga.

McNROE’s Wild Stone holds a little over 10% market share in the estimated Rs36.64 billion (as of 2016) deodorant market in India (including creams, pumps, roll-ons, sprays, sticks, wipes), behind Vini Cosmetics-owned Fogg, according to data from consulting firm KPMG.

Retail experts said it makes sense for McNROE to explore women’s fragrances market as there is a vacuum in the segment. “The deodorant and entry level perfume market is dominated by men’s segment, as is evident from the advertising. It seems like a lucrative opportunity as not many companies are focused on women’s products,” said Rajat Wahi, partner (management consulting) at consulting firm Deloitte India.

The deodorant market in India (including creams, pumps, roll-ons, sprays, sticks, wipes) is expected to be Rs44.48 billion in 2017, from Rs36.64 billion in 2016.