Godrej Consumer Products expects 25-40 per cent sales growth from newly launched products

“We are looking at 25-40 pc of this year’s growth coming through new product development. New product development is a hallmark of our strategy and this year the paddle has gone further up. We will have 7-9 launches this year. The innovation focus will be even more aggressive this year and lot of investment has gone behind them across all categories,” GCPL India and SAARC CEO Sunil Kataria said. 

With an aim to disrupt the market, the company launched a powder to liquid handwash under its Protekt brand priced at Rs 15 for a pouch and a combi-pack priced at Rs 35.

“It (liquid handwash) is very small for us right now. Our aspiration is, in four years (it should be) Rs 500 crore and in two years Rs 200 crore. Once it reaches that level, it will be a meaningful part of our portfolio,” he said. 

The second largest player in the soap category has a single digit market share in the liquid handwash segment at present, where the market size is Rs 740 crore, growing at 15 per cent.

The personal wash care market in the country is pegged at Rs 18,400 crore, largely dominated by soaps and the market estimate for hand-washing soaps stands at Rs 8,000 cr.