The Rs 1,200-crore FMCG major Reckitt & Benckiser on Wednesday launched its most successful global brand ‘Air Wick’, which is an air freshener in the country. The product is the first in the category to be launched in India, where the organised market for air freshners is virtually non-existent. The Air Wick brand contributes 20% of the FMCG giant’s global revenues. “In India the local air freshener market is still in its infancy with very low penetration. India is ready for this category due to changing lifestyles such as congested homes and poor ventilation facilities which spurt the demand for such products”, said Chander Mohan, chairman and managing director, Reckitt & Benckiser (India) Ltd.
The Indian market for air fresheners is as small as Rs 75 crore, and the company is expecting the market to grow at 35% to 40% by the end of this fiscal. Reckitt & Benckiser has the second largest advertising budget in the country, with 14% of the turnover going into its advertisement campaigns. Sethi said that the company would be equally aggressive in advertising the new product so as to ensure that 70% of the target audience is able to watch it at least five to six times a month.
Commenting on the revenue expectations of the company, Sethi said that since there was no market for such a product and the demand had to be spurted, it would take a timespan of up to three years before the company breaks even.