When is a good time for an image makeover? Any time as long as it’s in sync with the need and preferences of the consumer set you are trying to address.
Eight-year-old D2C grooming products brand Bombay Shaving Company (BSC) feels it’s time to take the next big leap with a new brand identity and a slew of new products in its arsenal.
It has two clear goals: Having closed FY23 with Rs 190 crore in net revenue, it is looking to touch Rs 500 crore in revenue (projected) in the next 18-20 months. Second, it will appeal to a younger India in a bid to expand its audience base. To that end, it has launched six sets of razors and will soon introduce a new range of trimmers.
Gauri Malhotra, CMO, BSC, says that for a company of this size and scale of business, acquiring new consumers is the only way to grow. And to fuel that growth you need new products and consequently a wider appeal. “Our primary approach is to lure shavers early on in their lives and become their ally for life,” she shares. The company will leverage influencer-led content to woo this younger consumer cohort.
Apart from a range of personal care and hair removal products, the homegrown brand has a portfolio of over 25 plus SKUs under just shaving products. It has recently stepped into some West Asian markets as well.
Within the Indian shaving products market, the razor category is around Rs 2,000 crore, growing at a CAGR of 10%. Gillette and Philips currently lead the market with products aimed at both men and women. BSC has taken a three-pronged approach to take on the Goliaths. First, it has introduced products across a range of price points — from Rs 20 to Rs 349. Second, it has sought to differentiate itself on product innovation. So its portfolio comprises disposables, ready-shavers, and travel-friendly products besides offering four- and six-blade razors that come with a lubrication strip, pivot head, and a longer handle, as well as an easy-to-clean cartridge system.
Last but not least, it has aggressively focussed on metro and tier 1 markets, pushing its products on ecommerce channels and then building a strong presence in the model trade channel.
Growing the pie
Now is the time to cast the net wider.
Starting out with the vision of premiumising the shaving experience and offering products only for men, the company forayed into the women’s segment as recently as in 2020 with Bombay Shaving Company — Women, which was later rebranded Bombae. Women’s products now account for 25% of its overall business.
“Its recent moves will pivot the brand to a mass brand status with a potential jump in revenue and growth,” notes Rutu Mody-Kamdar, founder, Jigsaw Brand Consultants. “While value offerings are great to build trial, the brand will need to find a few unique white spaces that other razor brands don’t cater to. Building a community of first-time shavers (since they are catering to a young age) is another good way to make an inroad into the heart and mind of this consumer set,” she suggests.
While the right rebranding strategy can put new energy into its business, what will be crucial here on is building a strong physical distribution network. Currently, about 60% of its total business comes from the online channel. While it covers more than 65,000 stores now, the aim is to reach two lakh stores sooner than later.
Communication will largely go below the line. It has launched a network marketing programme ‘’Razorprenuer’ to tap “the entrepreneurial zeal of the youth”. The same will be projected via the brand’s popular podcast series — The Barbershop with Shantanu Deshpande (founder & CEO). The programme will engage budding entrepreneurs through a challenge “to better sell razors”. During the 2023 IPL season, BSC also partnered with Rajasthan Royals to launch a co-branded range of shaving and grooming products.
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