After carving out a strong presence in north India, personal care products maker RSH Global is eyeing an exponential growth in Bengal and Maharashtra over the next three years.
The homegrown firm known for brands such as Joy, XMen and Karis expects to surpass Rs 300 crore in gross merchandise value from these two states over the next three years from around Rs 80 crore. The company is also looking to expand its presence in the northern region, which is its largest market.
Sunil Agarwal, chairman of RSH Global, told The Telegraph that its entire focus in the first 20-25 years of operation were the northern and western regions of the country.
“But there was always this recurring feeling on how can we grow in this market (Bengal). We had to first identify the hero product for Bengal. We zeroed in on face wash and sunscreen where we are now doing decent business. We have also started mass media advertising from last year. These will be the two major states where we will be putting most of our efforts and we expect a multifold growth,” he added.
Agarwal’s optimistic outlook for these two markets comes at a time companies have been witnessing a slowdown in demand following the second Covid wave.
The RSH Global chairman disclosed that the beginning to this fiscal was decent, but with most of the states opting for a lockdown, sales have been affected. However, he expects a sharp rebound from September. “We are confident that we can not only match last year’s figure (for the second half), but can even beat them,” Agarwal observed.
For 2021-22, RSH Global is expecting a sales growth of 15-20 per cent over last fiscal.
In 2019-20, it posted a growth of five per cent for the whole year as the first half was severely affected because of the nationwide lockdown. However, it bounced back strongly in the second half with a record growth of 50 per cent.
According to Nielsen data, RSH Global is ranked the sixth largest skincare company in the Rs 13,000-crore market. The company is now looking to launch around 15 products over the next two months.
