|Chennai||Rs. 24470.00 (1.37%)|
|Mumbai||Rs. 24900.00 (0.97%)|
|Delhi||Rs. 24200.00 (1.26%)|
|Kolkata||Rs. 24160.00 (0%)|
|Kerala||Rs. 24000.00 (0.63%)|
|Bangalore||Rs. 23800.00 (0%)|
|Hyderabad||Rs. 24140.00 (1.17%)|
Avon, the direct selling firm that markets itself as 'the company for women' is set to tap the male grooming market in India as well.
The US-based beauty and cosmetics company will launch about 10-12 products, exclusively for the Indian men, during 2013, said Ujjwal Sankar Mukhopadhyay, managing director, Avon beauty products, India. The products would be mainly in the skin care and grooming category, he said.
Avon India will continue to focus on women, but would also tap the fastest growing segment in the personal care market, he said. This market for men in India is estimated at Rs 1,700 crore with an annual growth rate of 25 per cent.
Meanwhile, $11-billion Avon would introduce about 300 new products here in 2013. “For the last three years, we have been growing at 40 per cent compound annual growth rate. We target to keep the pace,” said Mukhopadhyay. The company currently sells 1,500 products in India.
Avon, which launched jewellery products in India last year, plans to start selling nutritional products next year. “The timeline is yet to be firmed up,” he said. Jewellery has been growing at more than 100 per cent and the company would add more products in the category, he said.
There are about 100,000 representatives in India to date. “We aim to double the number by 2014,” he said, adding it had just 26,000 representatives three years back. Globally, Avon has 650,000 representatives across 100 nations.
At present, Avon produces 50 per cent of the products sold in India at its factory at Dehradun. About 30 per cent is being sourced locally, and the rest is being imported.
“We might need to ramp up the capacity at Dehradun in the next two years. We have the option to double the current capacity of 50 million units per annum,” said Mukhopadhyay. The capacity utilisation is at 50 per cent to date.
In June, the company had reportedly said it was planning to set up a second manufacturing unit in the southern part of India.
The direct selling market in the country is estimated to grow at 20 per cent to Rs 10,800 crore by 2015 from Rs 5,320 crore in 2010-11, according to the annual survey report (2010-11) by the Indian Direct Selling Association.