Emami Ltd, a fast-moving consumer goods (FMCG) company, is working to revive its ayurvedic hair care brand, Kesh King, which has been experiencing a decline in sales. The brand’s sales declined by 10% in the third quarter and 12% in the first nine months of the current financial year due to competitive pressures and category challenges. To address this issue, Emami has hired consultancy firm Boston Consulting Group (BCG) to develop a robust strategy for the brand.
Mohan Goenka, Vice Chairman and Whole-time Director of Emami Ltd, stated that BCG is currently evaluating Kesh King and will come up with a strategy to revive the brand. He expects the brand to recover within one or two quarters, and is confident that it will bounce back strongly. Goenka attributed the decline in Kesh King’s sales to category issues, but noted that the company is working to identify opportunities for growth in the shampoo and other hair care segments.
In related news, Emami recently rebranded its male grooming brand “Fair and Handsome” to “Smart And Handsome” to address changing consumer preferences and tap into the growing market. The company aims to grow the brand, which currently has a market leadership of around 65% in India’s male grooming category, to around ₹1,000 crore in the next three to four years with new product rollouts.
Emami reported a 7% year-on-year rise in its consolidated net profit to ₹278.98 crore for the third quarter of the current fiscal year, and a 5.33% increase in revenue to ₹1049.48 crore. The company is working to address the challenges facing its brands, and is confident that it can drive growth and recovery in the coming quarters. With the help of BCG’s strategy, Emami is optimistic about the future of Kesh King and its ability to revive the brand and drive sales growth.