Financial Daily from THE HINDU group of publications
Tuesday, Nov 12, 2002
Financial Daily from THE HINDU group of publications Tuesday, Nov 12, 2002 |
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Marketing
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Strategy Corporate - Outlook J.L. Morison to bring in more healthcare products — OTC items also on cards Ambar Singh Roy
KOLKATA, Nov. 11 PERSONAL care and healthcare products major J.L. Morison (India) Ltd has targeted a turnover of Rs 80 crore in the current fiscal, up from Rs 60 crore recorded in 2001-2002. In the next five years, the company hopes to surpass the Rs 200-crore turnover mark, according informed company sources. Speaking to Business Line, the sources outlined the company's roadmap that is aimed at achieving the turnover targets. Introduction of new products, augmentation of the existing distribution network, beefing up marketing efforts and stepping up promotional initiatives will form the core of the company's corporate strategy for the days ahead. Already, J.L. Morison (India) has entered into a distribution agreement with Cuxson Gerrard of the UK for importing Carnation corn caps manufactured by the latter and marketing them in India. While two of Carnation's healing products are imported and marketed at present, about a couple-of-dozen other products would be introduced in the Indian market in a phased manner. The size of the domestic market for corn caps has been pegged at Rs 15 crore and is stated to be growing at 25 per cent per annum. The growth in the market for corn caps has been attributed to the increased use of high-heeled shoes and indulgence in sports activities. "When the size of the market becomes slightly bigger, we shall consider the feasibility of setting up a joint venture for manufacturing the healing products here in India", the sources said. J.L. Morison (India) Ltd, which has on offer 35 products spread across the personal care, healthcare and hair cosmetics segments, has firmed up plans to introduce new over-the-counter products. While soaps and lotions have already been launched, on the anvil are the introduction of deodorants and a Nivea cream suited for the Indian skin. These products, including other fast-moving products of the company such as shaving cream and talcum powder, would be pushed in rural markets as well. J.L. Morison (India) has a total of 43 branches and CNF agents across the country. The company has earmarked Rs 12 crore for advertising, brand-building and marketing initiatives during the current fiscal. "Twenty five per cent of our sales will be earmarked for these initiatives," the sources said, adding that the company does not have any investment plans for the next 2-3 years.
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