Buy / Sell Bajaj Consumer share
Bajaj Group's consumer care company is betting big on its Almond Drops brand. Recently, Bajaj Consumer Care launched a Bajaj Almond Drops Moisturising Soap and plans to launch a bouquet of other products in skincare and haircare under the brand.
During an interview with CNBC-TV18, managing director Jaideep Nandi spoke at length about the revenue expectation from the new product as well as the overall outlook.
“This is not just a soap launch. It’s more of a bouquet launch and this is the first product of the Almost Drops bouquet that we want to bring on for our Indian customers. This will be a graded launch for the next few quarters both in the hair and skin care products,” he said.
The new moisturising soap is in the premium category and is priced at Rs 53 for 100g and Rs 25 for 50g.
The company is looking at double-digit revenue contribution from the new launches in the next 2-3 years, said Nandi.
Talking about capacity, he said: “We will use a mix of both our in-house facility for the manufacturing. Investments will be in marketing and ad spending while other costs will be rationalised. We have been ramping our own manufacturing facility as well and we have put up a manufacturing footprint for the next 3-5 years, which will follow based on the launches that we have.”
The MD said the company had taken 7 percent price increases in FY22 and was not planning to take further prices hikes in hair oil. "Rural demand has gone down and the hair oil market had degrown in April. It grew in May on a low base," Nandi said. He added that, geographically, west and southern markets were doing better.
For the entire interview, watch the accompanying video