Have you ever imagined that India’s leading branded fabric and apparel manufacturer, Raymond marking their entry to shampoo market? Raymond’s and Shampoo!!! You read it right. Raymond is to launch its new “beer shampoo”, under their popular brand Park Avenue.
Since its incorporation in 1925, Raymond has positioned themselves as a leader in male grooming industry. With the introduction of new beer shampoo, the company aims to shake up the domestic shampoo market which is estimated to be around Rs 3,000 crore.
Beer shampoo is an innovative product, which is being introduced for the first time in India. It’s really a good time for Raymond to make such a launch, since Indian cosmetic market is expecting an annual growth rate of 17% by 2015. Also, global male grooming market alone is expecting revenue of $33 billion by 2015.
Increased interest level in physical appearance and grooming are mainly fostering the growth of male cosmetic sector. Other important factors fuelling market growth are product innovations, growing middle-class consumer base, and changing customer needs. In fact, these factors have promoted the introduction of new product categories (like hair care and skin care) rather than traditional men grooming products like shaving creams and deodorants.
Though Beer shampoo targets stylish young Indians as a whole, they are mainly focusing on male market segment to foster their growth in India. Within a few weeks, the product will reach retail stores the price of which will be more or less equal to that of P&G’s Head &Shoulders and Unilever’s All Clear.
As shampoo market is highly clustered, differentiated marketing strategies are quite necessary to position themselves in target market. Raymond is trying to create a niche by combining the unique features of beer shampoo with attractive packaging.
Park Avenue is there in the male personal care market for the past 25 years. During this time they have made their presence felt in the Indian cosmetic industry with a variety of products like deodorants, soap, face washes, shaving gels, and hair creams. It is the very first time that the brand is being extended to shampoo market, where they are expecting high growth potential in the coming future.