Colgate Palmolive to introduce more brands in India from its global portfolio
Colgate-Palmolive
(India) plans to introduce more brands here from the company's global portfolio to upscale its play in India -- one of the drivers for its growth, MD & CEO Prabha Narasimhan said on Monday.
The company, having presence in the country with two brands - Colgate and Palmolive - currently operates in the oral care and personal care, and is in "active ongoing conversation" with the parent firm for expanding the portfolio.
"We are very excited about what all we can do in India, both with our existing brands and portfolio, and with what we can do with the things that we can bring in from the globe. We have tremendous support from our global counterparts in terms of their excitement about what we can achieve in India," Narasimhan told PTI.
About the Palmolive brand, which is currently operating in the personal care space with a premium body wash and hand wash range, Narasimhan said, they have tremendous potential and grow at 20 to 30 per cent CAGR.
When asked as whether
Colgate-Palmolive India
Ltd (CPIL) will extend the brand Palmolive in new segments, she added she would rather focus on introducing more brands.
"Actually, more than extending the brand Palmolive, we have a lot of products portfolio that is available globally. We are looking to see what of that product portfolio can legitimately be brought into India and make sense for the Indian consumer, and leverage the strengths that Colgate Palmolive India has. So that's a very active ongoing conversation," she added.
CPIL, which has been operating in India for the last 88 years, currently contributes around 4 to 5 per cent of the global revenue of the Midtown Manhattan, New York City-based multinational consumer products major Colgate-Palmolive Company.
According to Narasimhan, "in the coming years, the contribution of India will certainly increase."
India, with its over 1.4 billion population, is always a "central part" of Colgate's global strategy and is now among five markets, which are called out as being the drivers of growth.
"If you listen to our global CEO... who was speaking even recently at a conference where he talked about the fact that India will add more middle-class people in the next few years than any other country in the world, and therefore represents a tremendous opportunity for us," she said.
Besides, on the channel side, CPIL, as per its strategy, is also extending its play into the fast-growing
e-commerce channels
, by adding more digital-first brands, exclusive to online sales channels. It has launched Colgate Purple and Max Fresh Sensories range, mouthwash sticks, which is for a small audience in the market.
"We have quite a few, and we have a pipeline of many more," she added.
However, she also added that traditional trade, which is neighbourhood kirana stores, is actually the bulk of CPIL's business and critical for the company. It has a "tremendous relationship" with its distributors, many of whom have been with it for decades.
Earlier in May, All India Consumer Products Distributors Federation (AICPDF), an umbrella body of FMCG distributors pan-India, had called for the suspension of the purchase of all products of CPIL in Maharashtra, alleging deep discounting by it in favour of quick commerce channels.
However, Narasimhan said there is "enough room" for all the channels in the market.
Talking about the trend of consumers becoming more health-conscious, seeking better products and organic options, Narasimhan said consumers buy benefits and CPIL has the right science to deliver all of these benefits.
Recently, the oral care segment has witnessed heightened competition, where several brands have launched their toothpaste based on ingredients derived from traditional ayurveda and organic options.
"Indian consumers are sensible enough to know that they look for a benefit, they find products that deliver to that benefit, and that's our primary job," she said.
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