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Company profle: Emami Emerging markets Filling in the gaps India-based personal-care and healthcare group Emami is banking on the men’s market and other new niches for future growth by Mayu Saini ndian personal-care and healthcare Igroup Emami is celebrating its 40th anniversary this year with strong growth and a successful push into new market niches. The company, which markets more than 20 brands based on ayurvedic formulas, reported net sales of Rs18.2bn ($302.78m) in fscal 2013-2014 and has seen a 24% CAGR over the past fve years. s Emami is looking to boost its already strong position in the men’s Domestic sales were up 5.1% last year, market with its new Fair and Handsome facial wash while its international business grew by 23% to Rs2.21bn ($36.77m). Emami sells its brands in 60 countries, with a strong position in Southeast Asia, the Middle East recent interview. retail consultant Amrisha Patil. “Emami has and Africa. Its products are sold in four Indeed, Emami’s real success in personal grown by seeing gaps in the market and million retail outlets. care has come from the men’s market. fnding ways to fll them,” he continues. The Emami is unusual in that it is based in Having seen the fast growth of Hindustan men’s fairness market is estimated to be Kolkata, unlike many of the other FMCG Unilever’s Fair and Lovely line, which is the worth Rs4bn ($65.53m), and Emami claims players, which are headquartered in more than a 60% share of the sector. Mumbai or New Delhi. It has also been Product innovation has After years of being the front runner one of the few companies, along with in men’s skincare, Emami entered a new Dabur, Godrej and VLCC, to have forged become an integral part niche in March this year with the launch a strong position in the personal-care of growth for the group. of Fair and Handsome face wash. The new segment despite immense competition from More than half a dozen launch is intended to cater to the growing multinationals, such as Hindustan Unilever. awareness of beauty products among male new products have been consumers, who have traditionally used Mining the men’s market launched over the past year soaps instead of face wash. The company Personal care, especially the men’s says this new launch is just the beginning segment, has fueled the company’s growth of its development in the men’s market and in recent years and is set to continue to do leader in the whitening market in India, that it will continue to add new products so in the future. “We expect the industry Emami launched men’s skincare brand Fair and features. to grow robustly over the next fve years, and Handsome in 2005—it turned out to accounting for a larger share of consumer be a surprise winner. “It was completely Focusing on innovation spending. Our target is the aspiring rural unexpected that Indian men would buy Product innovation has become an integral male population and we are trying to a cream exclusively targeted to them, part of growth for the group. More than focus on the male grooming segment,” R.S and that was also a whitening cream,” half a dozen new products have been Agarwal, joint chairman Emami said in a comments Mumbai-based independent launched over the past year, including 70 September-October 2014 - N°19 - BW Confidential