The company aims to capture 25 per cent market share in the next three years.
Saurabh Goel, Executive Vice-President, said, “The personal grooming segment has been seeing exponential growth. We believe there is a gap in this high growth category for quality products. Also we felt that we needed to get into a synergistic category that will enable us to connect with young consumers.”
Personal grooming segment in the country is estimated at ₹1,500 crore, which is growing at 20-25 per cent year-on-year.
Goel said the company aims to become among the top three brands in the space in the next two-three years.
The company will bank on its established distribution network which include 400 exclusive Havells brand stores and initially launch its products in the metros and mini-metros.
“We will be leveraging on our strong distribution network. We also believe we can help expand this category and we would take these products to tier II-III markets gradually,” he said. The company will also be tapping into other channels such as the cosmetics, departmental and pharma stores to sell these products.
The company has launched the personal grooming range with 16 products which includes electric shavers, beard trimmers, grooming kit, hair straighteners, and dryers, and are priced in the range of ₹1,000- ₹7,200.
For now, the company has tie-ups for contract manufacturing in China for these products, but hopes to start manufacturing them on their own once the business attains scale.