Himalaya plans splurge in men's grooming space

 Health and personal care behemoth Himalaya, having sensed a shifting trend among males wanting to groom and pamper themselves, has rolled out an extensive strategy to tap the men’s grooming space.

Over the next three years, the homegrown brand is looking at several whitespaces in different categories to launch products, for which it is evaluating areas of hair gels, deo-sprays, and face creams.

“Himalaya forayed into the men’s grooming category in 2014, with men’s face washes. Basis our research on men’s grooming needs, Himalaya discovered three benefits that men were looking for in a face wash — oil clear, skin brightening and solution for pimples,” Rajesh Krishnamurthy, Business Head at the Personal Care Division of The Himalaya Drug Company told DH.

The large personal care division contributes 45% of the revenues for Himalaya, and has grown at a CAGR of 25% in the last four years, with its business rising from Rs 400 crore to Rs 1,000 crore, in the said period. Around 50% of the division’s business is contributed by facewash, for which the men’s face wash contributes around 5%, and is growing at a considerable 30-40% each year. The category, which also includes shaving solutions, face creams, and hair care, is projected to touch sales of Rs 14,200 crore by 2020, up from Rs 7,500 crore in 2015.

Contrary to popular belief, men do not typically use grooming products only to increase their appeal to the opposite sex. Rather, most feel the need to improve themselves, evolving their personality and hygiene, as it is strongly believed that good grooming is conducive to boosting self-confidence. “In the last three to four years, many categories catering to men’s grooming are growing in size. Men have also begun shifting from unisex to a category built just for them, motivated by factors emerging out of fields such as sports and popular culture,” Krishnamurthy said.