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LG Care eyes 9% share of premium mart

LG Care eyes 9% share of premium mart

Author | exchange4media News Service | Saturday, Oct 02,2004 8:12 AM

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LG Care eyes 9% share of premium mart

LG Care, the healthcare division of LG group, which has launched its range products, aims at a share of 8-9 per cent of the premium FMCG market. The company has just completed the all-India launch of its toothpaste, shampoo, soaps, detergents and diapers.

LG Care sells its products through the sole licencee, India Household and Healthcare Ltd.

“LG Care’s products are basically in the premium segment in the categories that we have launched products. L G Care intends to grab a share of between 8 and 9 per cent of the premium market. We are aiming at a 3 per cent share in the overall market in the categories that we have launched products,” said Vijay Singh, managing director, Indian Household and Healthcare Ltd.

He added that the company has set up 23 offices and an equal number of warehouses. “The overall market size, in the categories that we have launched products, is about Rs 12,000 crore, while the premium segment is about 6 per cent of the total market,” Singh said.

Singh, however, added that the company has no plans to set up manufacturing facilities in India. At present, all LG Care products available in the country are imported from Korea. Singh said that at least 1.50 lakh outlets would sell LG Care products by the year-end.

LG Care is eyeing a turnover of over Rs 100 crore in the first year of operation. LG Care, part of the Korean conglomerate LG Group, plans to spend Rs 100 crore on advertising over a period of three years. It already has put in place 400 distributors across the country.

Tags: e4m

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