McNroe Consumer Products, owner of leading personal care brand Wild Stone, has charted out a multi-progned strategy to buck slowdown in Rs 2,500 crore deodorant market.
"There is volume de-growth of about 5-6% since last 5 to 6 quarters against a growth of as high as 40 per cent in the past," But, in terms of value there is some growth," McNroe director N K Daga told PTI.
"We have formulated a multi-pronged strategy to buck the trend and move the value chain by diversifying the personal product range, tapping modern retail, online sales and foraying into newer markets including overseas," he said.
Daga claimed McNroe is the second largest selling brand in the deo with 8-10 per cent marketshare, will leverage the brand into new emerging high growth personal care categories such as face wash, body wash, and men's depilatory solutions.
"Wild Stone is a male grooming brand aims to reach a turnover of Rs 500 crore by 2017-18 from a current revenue of Rs 200 crore the brand generates out of company's topline of Rs 300 crore," Daga said.
The company has already introduced soaps, talc and saving cream under Wild Stone.
Secret Temptation and Heaven's Garden are two other brands targeted toward women and family.
McNroe said it will attempt to expand its footprint in the semi-urban and rural market.
"We are currently, preparing a separate strategy for the the rural market. We are exploring various options which we will finalise soon," Daga said.