Latest news with #JoyPersonalCare
Mint
05-05-2025
- Business
- Mint
Joy Personal Care to step up distribution as it plans to double revenues
NEW DELHI : Kolkata-based Joy Personal Care plans to double its revenue to ₹ 1,500 crore by FY28, driven by an expanded distribution network for its body wash, lotions and creams. Co-founder Sunil Agarwal said the company will prioritize direct outreach to more outlets and step up its presence through e-commerce. 'Over the last two to three years, we have been increasing our direct distribution by one lakh outlets a year. This will continue for the next two years till we reach direct distribution of 5 lakh outlets. We are present in over a million outlets via indirect distribution. We believe in the next two years' time we will have more than 2 million outlets in indirect distribution as well," he said. Several major consumer goods companies are increasingly adopting direct distribution, where the FMCG firm manages product sales and delivery directly to retailers ( kirana stores, supermarkets, etc.), bypassing wholesalers. Companies like Dabur India and Marico, for instance, have stepped up their direct distribution efforts in recent years. This helps with better stock availability in key markets. The over 35-year-old company closed FY25 with revenues of a little over ₹ 700 crore. Yearly volumes grew 17%, helped by greater demand for its products through e-commerce. It sells personal care products under the Joy Personal Care, Karis and Orimii brands. The company operates in the Indian beauty and personal care market, which, according to a September 2023 report by Redseer consultants, is projected to reach $30 billion by 2027. Joy Personal Care offers lower prices than companies like Hindustan Unilever, Nivea, and L'Oréal in the lotions, skin products, and body cleanser market. Recently, major consumer goods companies have noted increased competition at the mass market level, with local and regional players launching competitively priced new products. Agarwal said 40-50% of its portfolio has been introduced post-covid. Last year, it on-boarded Shah Rukh Khan as the face of its face cleansing range. 'We majorly operate in four categories—90% of the business comes from moisturizers, body lotions, face wash, and sunscreens. We are strengthening our market share in these categories. We also sell products in six geographies that we have identified—we continue to expand deeply in these markets," he said in a virtual interview with Mint . Earlier this year, the company announced the setting up of a new ₹ 100 crore plant in Baddi, Himachal Pradesh; it already operates two units in Baddi. 'We have set up a large facility in Baddi, which will be operational in June. That will triple our capacity," he added. Commenting on demand, Agarwal said demand in the first six months of the current fiscal year will be starkly better than the previous six months. 'April onwards, we are looking at a normal monsoon. This, along with tax reliefs announced in the budget, will aid consumption. Crude oil prices are falling, so a lot of positives," he added.
Time of India
29-04-2025
- Business
- Time of India
Firms pin hopes on new tax regime to revive mass demand after prolonged slump
Companies anticipate increased demand due to income tax relief starting in April. This could boost consumption, especially in tier-2 and tier-3 markets. Hindustan Unilever expects consumers to either spend more or save more. Honda Motorcycle & Scooter India foresees a positive shift in entry-level demand. Joy Personal Care anticipates a more positive demand environment. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads ( Originally published on Apr 29, 2025 ) New Delhi: Companies are hoping the income tax relief under the new regime that kicks in with salaries for April could be a fillip to spark greater demand, especially for the mass priced categories after a five-quarter said they expect this to translate into better demand starting May, particularly in tier-2 and -3 markets, which have been core growth drivers at a time when urban demand has been slowing."The fact is there will be more money in the hands of consumers. With this, they may boost consumption or increase savings - we will have to wait and see how it will eventually trickle down," said Rohit Jawa, chief executive of India's largest consumer goods company Hindustan Unilever , maker of Pears soap and Brooke Bond finance minister Nirmala Sitharaman had announced in her Budget Speech on February 1 that individuals earning up to Rs 12 lakh annually will no longer have to pay any income tax under the new tax selling mass-priced products, especially, say they are hopeful of an uptick in demand. "With increased disposable income, we expect demand in the entry-level segment to see a positive shift," said Yogesh Mathur, director, sales & marketing, Honda Motorcycle & Scooter India Semi-urban markets, or tier-2 and three markets, have been called out by categories such as packaged food, fashion, e-commerce and diners as core economic growth drivers amid higher aspirational demand and last mile online delivery platforms."As a mass brand with affordable pricing, we foresee a positive shift in buying behaviour," said Sunil Agarwal, chairman of Joy Personal Care (RSH Global), which makes moisturisers, body lotions, sunscreens and face washes."The relief is expected to create a more positive demand environment, especially by putting additional disposable income in the hands of middle-income consumers, which together contribute to nearly 90% of our overall business," Agarwal other executives said they were cautious about whether the tax relief would steer demand or consumers may choose to improve their disposable incomes could translate into spending across services such as essentials, cars, or education of children, executives said."People are not going to put all their income tax savings aside and use it to buy a car. They have other priorities also. These are small households. For most small households, a car isn't the top priority-they have children and many other requirements," said R C Bhargava, chairman of Maruti Suzuki Bhargava added that with the price of cars having gone up by '80,000-90,000, the amount people save through tax exemptions may not be enough, "especially considering their other household expenses."In addition to the tax relief on incomes up to Rs 12 lakh, tax payers in the Rs 12-24 lakh bracket have been given the option to save up to Rs 1.1 lakh annually within the tax slab tweaks. The TDS (Tax Deducted at Source) threshold on rental income has been raised from Rs 2.4 lakh to Rs 6 lakh.
