Herbal beauty care specialist Shahnaz Husain has joined hands with Elder Pharma for launching Fair One, a fairness cream, marking Husain's entry into the mass market.
As per the alliance, Elder would manufacture and market Fair One. Husain will provide the formulation for the cream and get a royalty. Elder has targeted a turnover of Rs 20 crore (Rs 200 million) in the next 12 months. Elder Pharma is also planning to extend the Fair One to other skin care product categories.
The total skin care market is estimated to be Rs 2,000 crore (Rs 20 billion) of which the fairness market is approximately Rs 750 crore (Rs 7.5 billion) and is growing at about 10 per cent.
The leader in this category is Hindustan Lever Ltd's Fair & Lovely. HLL has extended the Fair & Lovely brand to range of personal products such as pedicure lotion, soap, face wash, day and night moisturising cream among others.
Husain said, "My products are perceived as highly priced and after researching for nearly four years we have developed Fair One. The new product will be sold at a affordable price."
Fair One is priced at Rs 29 for a 25 gm pack and Rs 56 for a 50 gm pack. Husain's group is engaged in the formulation and marketing of over 400 ayurvedic formulations for skin, hair and body care including a line of health tonics, ayurvedic medicines, herbal drinks and herbal teas.
Husain is also breaking its tradition of not advertising its products. Says Husain, "I have never advertised my products and it's through the word of mouth that the group has acquired this tremendous goodwill and global presence. However, for Fair One, we will advertise the product to reach a wider audience."
With over 20 international partnerships, Elder offers a range of international products to Indians. The strategic tie-ups and a marketing thrust will be the growth drivers for the company, a senior company executive added.
Elder has already marked its foray into the Rs 1,700 crore (Rs 17 billion) skincare segment through a tie-up with the US-based Blistex Inc for lip-care products.
Elder's product profile comprises antibiotics, nutraceuticals & vitamins, anti haemorrhoidals, oral care, cardiac care, pain management, calcium preparations, peripheral vasodilators, gastrointestinal therapy, hormonal preparations, respiratory management, skincare and incontinence.
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