India's largest consumer goods company, Hindustan Unilever Ltd, is betting on the growth opportunity in the 'masstige' beauty segment and is eyeing acquisitions in the space.
Speaking exclusively to CNBC-TV18, HUL CFO Ritesh Tiwari said that though the space is niche and small today, he sees this market growing very well.
The masstige beauty segment sits just above the premium segment and Tiwari categorises this as a segment of beauty & personal care products priced above Rs 250.
The company has already been growing it's presence in this segment having launched five brands including brands built organically like Novology and brands like Love Beauty Planet, which it brought from Unilever’s global portfolio to India.
"But equally, if there is a fabulous brand externally, which we think adds value and can do a good job with a portfolio, we're always open for bolt on acquisitions as well,” Tiwari said.
HUL's last two strategic investments were in Health & Wellbeing, a category it forayed into by acquiring a majority stake in Oziva and a minority stake in Wellbeing Nutrition.
Going forward, Tiwari said that while company will continue to evaluate more strategic investments in this space as well. The focus within health and wellbeing, he said, will be in the areas of gut health, beauty, protein, vitamins and mineral supplements.
In addition to strategic investments, HUL will also look to bring some brands from the global stable of Unilever in this category to the country.
First Published: Jun 5, 2023 7:26 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Phase 4 polls | Analysing the triangular battle in Telangana and Andhra Pradesh, says expert
May 8, 2024 8:02 PM