Reckitt Benckiser India, a leader in household and personal care products, announced today its foray into the personal grooming sector with the launch of Veet hair removal cream. The company, with an annual turnover of 90 million pounds, has plans to invest heavily on Veet, says Anne Engerant, Regional Marketing Director.
“India has a huge market in the hair depilation category. The growth is at 7 per cent per annum and according to a research conducted by the company, there is tremendous scope here,” she says.
Veet Hair Removal System is available in 2 fragrant variants—Sensitive with almond milk extracts and Softening with silk extracts. The product is marketed in international 60 gram pack and priced at Rs 60. Veet is sold in over 50 countries and is among the core set of power bands for Reckitt Benckiser.
Asked on why they came up with the cream variant, she says: “Our research shows that there is a 68 per cent penetration of hair depilation system in the country. Out of this, 63 per cent of women prefer to depilate at home and 46 per cent prefer creams to razors and wax. The cream was preferred across SECs and age groups 18-39.”
Commenting on the company’s entry into the personal grooming segment, C.M. Sethi says: “The hair removal system in India is currently valued at Rs 50 crore and projected to double in size in the next few years. With the launch of Veet, we hope to capture a significant market share in this segment. India is a very significant market for us and we are committed to bring the best products from our global portfolio to India.”
Incidentally, the company has chosen model Katrina Kaif to endorse the product in India too. Internationally, the company has used super models as the brand ambassadors. “Kaif’s selection as brand ambassador is keeping with the product’s correlation with style and fashion. Her beauty and elegance makes her the right fit for Veet,” he says, adding that the company is investing Rs 10 crore as the advertising budget.
According to Sethi, “Veet has been test marketed in Karnataka. Since the entry of Veet, the market has seen a 50 per cent growth in volume from April to August 2004. Following its introduction in Karnataka in July, Veet has gained 27 per cent value share of the cosmetic depilation creams base market.”