The Raymond Group has roped in a celebrity endorser to bump up sales...
The Raymond Group is reworking its consumer products strategy to enter newer categories, and has roped in a celebrity endorser to bump up sales of its deodorants. The textile major's FMCG company, JK Helene Curtis (JKHC), has signed up actor-director Farhan Akhtar to push sales of its Park Avenue brand of deodorants in the Rs 3,500-crore segment that has close to 1,000 brands. "Farhan Akhtar will appeal to younger consumers who are now getting fatigued with similar type of communication," said JKHC business director Ashok Namboodiri.
"This is a great opportunity to leverage the DNA of the brand, which has got a strong legacy in the male grooming category." With 7% market share, Park Avenue is the second-largest deodorant brand in the country. Industry executives, who did not wish to be named, said the 51-yearold personal care company is in the midst of forming an advisory board, as it seeks higher growth in deodorants and entry into newer segments within hair and skin care. The advisory board will include Raymond's CEO Sanjay Behl and outsiders such as Ravi Venkatesan, ex-Microsoft CEO, they said. The consumer products division of Raymond contributes about 10%, or roughly Rs 450 crore, to the group's annual consolidated revenues of Rs 5,400 crore. The latest move is a part of the group's larger strategy, internally called JKHC version 2.0, which aims to restructure its consumer business from product portfolio to distribution.
"Park Avenue was getting a bit dated and needed rejuvenation. Farhan Akhtar stands for substance and integrity and has an instant aura, unlike many other brand ambassadors who are losing salience by endorsing many brands," said Alpana Parida, president at brand consultancy firm DY Works.
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