Godrej Mulls Tapping Africa, LatAm

Mumbai, May 20: | Updated: May 21 2003, 05:30am hrs
Godrej Consumer Products Ltd (GCPL) is exploring new global markets in high potential areas. The company is considering basing a team in Latin America and Africa to diversify its reach and benefit from the growing opportunity in these regions.

According to a company official, GCPL is betting big on taking its Godrej Powder Hair Dye to global markets from the Far East to Latin America, where the majority of the population have dark hair. For instance, Godrej Hair Dye has become the only product in its category to enter the challenging Singapore market. New product-lines have also been introduced keeping in view the needs of the consumers in regions like Latin America and Africa.

The company is exploring opportunities to increase its presence in international markets. GCPLs consumer products range is present in 36 countries across the African, Asian, Latin American and North American continents. A number of its products are sourced by the Middle East-based Godrej Global MidEast FZE. The company continuously explores opportunities to establish manufacturing facilities in other regions so as to enhance reach and proximity to customers.

Further, with the objective of strengthening its presence in the Indian sub-continent, GCPL is planning to establish a third party colour manufacturing unit in Bangladesh.

In the domestic market, GCPLs market share in toilet soaps has marginally increased to 6.2 per cent in value in the fourth quarter (Q4) of the fiscal year 2002-03, from 6 per cent in the corresponding quarter last fiscal. Its share in hair colours has declined to 43.9 per cent from 44.9 per cent during the quarter, while in liquid detergents its share has increased from 87.5 per cent to 89.1 per cent. In shaving creams, GCPLs market share has declined marginally to 11 per cent from 11.4 per cent.