Emami targets rural markets
To launch new brands, hire staff and introduce brand extensions.
Tags: EmamiMay 17, 2012 | comments ( 0 ) |
Emami is all set to strengthen and consolidate its position in the burgeoning rural market. To work towards it, Emami plans to shore up the hiring of sales staff and launch new brands and product extensions.
“The company is also exploring acquisition possibilities to strengthen its hold in these markets. The personal care business is a competitive industry and we should find adequate value in acquiring a company”, said Naresh Bhansali, Chief Executive Officer, Finance, Strategy and Business Development, Emami.
Emami will expand its frontline sales team by 15 per cent this year. Close to 400 people are employed in the company's rural sales team at present.
The company had in 2010 rolled out Project Swadesh to increase its penetration in rural areas. Under the project, Emami hired stockists to market its products on mobile vans. This move helped them cut costs and reduce dependency on wholesalers.
Emami witnessed a 15.3 per cent growth in net sales at Rs 404 crore during the fourth quarter of this year. The growth during the year stands at 16.6 per cent with net sales at Rs 1454 crore. EBITDA at Rs 82 crore grew by 52.5 per cent during the quarter.
New launches this year included Navratna Coconut Cooling Oil, Boroplus Sun Protection Lotion and Boroplus Face Wash.
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