It is infamously said, ‘why should boys have all the fun?’ however in case of grooming and skin care, it is girls who have most fun for many years. But men too have caught up with the fever, the rise in men grooming products, proves this. In fact, catching up on this fever, Henkel Consumer Brands has launched its global hair styling range in India, named Taft. We have launched 18 stock keeping units (SKUs) across categories including wax, gel, mousse, hairspray, among others. With Taft, the brand aims to capture 35-40% of the market share by the end of 2025,” Kartik Kaushik, country head – Henkel Consumer Brands, India and South Asia told BrandWagon Online.
India men’s grooming market is expected to grow at a CAGR (compound annual growth rate) of 11% between 2027-28 to reach Rs 31,000 crore, as per Research and Market, a market research firm. Overall men’s grooming is segmented into men’s shaving products market, beard care market, men’s skin care market, men’s hair care market, men’s fragrance market. The men’s hair care and styling products market was valued at $40,430.0 million in 2020, and is projected to reach $54,755.1 million by 2030, registering a CAGR of 3.3% from 2021 to 2030, as per Allied Market Research.
With the launch of the new product, the company claims that it has been able to target all price points. This as per the firm has been able to achieve by being present in various formats including gel, waxes, hair mousse and the spray format. “The new range of product is a bridge between the mass and premium category. It is priced from Rs 550 onwards and its targetted at both Gen-Zs and millennials,” Kaushik added.
As for marketing its new product, the firm claims to have adopted a digital first approach. According to Kaushik, within digital new platforms have come up. “For example, e-commerce platforms. We are looking at a wholistic digital play and whichever is a relevant channel for us, given the aspiration of the brand and the consumer, we will target it,” he said.
The company further claims that besides traditional route of distribution which includes modern retail outlets as well as mom-and-pop shops, it will sell its products on e-commerce platforms in addition to quick commerce channels such as Blinkit, Zepto, among others. “Quick commerce is something very new. It is an off-shoot of e-commerce. All these players who have made this promise of quick delivery to consumers, augurs really well for us as we would be able to cater consumers, who are really in hurry to buy something,” he explained.