“Over the past two years, we have been working on a fully differentiated product portfolio for the professional segment designed for Indian hair. We have very ambitious plans,” he told PTI.
“We have a presence in the top 10 cities and will expand to Tier I and some Tier II cities next year. Our goal is to reach 10% market share in the next two to two and a half years,” he added.
The hair care segment accounts for around 13-14% of the company’s revenue in India, and he expects it to grow to 20% over the next three years due to its entry into the professional space.
The company has 40 SKUs (Stock Keeping Units) in its professional haircare portfolio brand Godrej Professional. This includes 21 shades of hair color, color lock shampoos and conditioners, and high-end serums.
GCPL is a strong player in the non-professional segment hair color market with brands such as Expert, BBlunt, Nupur and Renew.
The Indian non-professional hair coloring market is pegged at Rs 320-350 crore and GCPL has over 25% market share. The professional hair coloring market is estimated at Rs.500-600 crore.