CavinKare Ltd has pulled the advertising for two of its biggest brands, Fairever fairness cream and Nyle herbal shampoo, from the advertising agency, Fountainhead Communications. According to company sources the decision was mutually agreed upon.
According to industry sources the Fairever account is worth about Rs 12 crore, and the Nyle shampoo account is worth about Rs 3 crore. It is not clear yet if CavinKare will call for a pitch for the accounts, or simply re-allocate them amongst its other agencies, Ogilvy & Mather Advertising (Meera Shikakai), Euro RSCG (Meera Soap) and Rubecon (Spinz talc).
According to the company, Fairever has a more than 12 per cent share of the Rs 650-crore fairness cream market, and Nyle ranks as the fifth largest shampoo brand in the country.
Recent gains for Fountainhead include brands from Nutrine Confectionery, Vasu Agarbathis and Sakthi Soya. Estimated to be worth about Rs 18 crore-Rs 20 crore, these gains will more than make up the loss of the CavinKare account, says agency sources.
According to sources the agency is also close to signing on a major fairness cream brand and a major skincare range from a leading MNC