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The world's largest skincare brand Nivea, which has so far been a marginal player in the Rs 30,000 crore (Rs 300 billion) skincare market in India, is gearing up for a bigger slice of the market.
The euro3 billion brand, with a combined share of 0.2 per cent in the overall skincare and cosmetics category in the country, is aiming for a five per cent share in all the categories it enters within five years of its launch.
Kai-Boris Bendix, managing director, Nivea India, admits it is a bold vision but thinks the current market situation in the country offers significant opportunities for the company to achieve the target.
He declined to comment on the investment plan of Beiersdorf (parent company) in India, saying it would be enough to break through the clutter and remain visible. The company will be launching 33 new products this year, starting with a six-product range of Nivea for Men. The other categories in focus will be be women's skincare, decorative cosmetics and eventually haircare.
"Nivea has very strong associations as a cold cream brand, and we don't want to dilute it. We will launch our haircare and styling products in India, but at a later date," said Bendix. Initially, Nivea will be looking at moving from cold cream to other skin and personal care categories where its brand equity can be transferred easily.
Bendix said that the company didn't plan to launch its men's range this early in India, but after seeing the heightened activity in the category with companies such as Emami, Hindustan Lever and L'Oreal launching men skincare products, it made sense to enter the market at this point in time.
