Valon eyes body lotion market

0
1255
Valon
PHOTO/COURTESY

India based multinational company Godrej has introduced body lotion products for its Valon brand in an effort to increase the brand’s revenue generation streams.

The new products will be available in 100ml, 200ml, 400ml and 600ml packages with the body lotions retailing between Ksh. 19 and Ksh. 220.

According to Valon’s mother company, the move was informed by a growing trend that has seen Kenyan consumers shift to body lotions instead of using petroleum jelly products such as Valon.

“Most consumers in Kenya are evolving from petroleum jelly to lotions as products and hence as a part of this journey; it was only natural that we upgrade our consumers from petroleum jellies to lotions,” said Rohit Vengurlekar, Business Head, Godrej Kenya.

“Lotions in itself is a sizeable market in Kenya. It is almost $50 million (Sh5.15 billion) in Kenya alone, so it is now ahead of petroleum jelly in skincare. So, it is a natural extension for Valon to be in (the segment),” Mr. Vengurlekar added.

According to a news report by the Business Daily, Godrej will moving forward inject approximately 10 per cent of revenue collected from other businesses to grow the segment which it reckons will contribute 30 per cent of the total business in five years.

Godrej holds majority stake in Valon after acquiring a majority stake of 75 per cent from Valon’s then mother company Canon Chemicals in 2016. Canon Chemicals has been operating in Kenya for more than 40 years and prior to the buyout had recorded revenues of Ksh.1.15 billion in 2015. Godrej enjoys the patronage of 1.1 billion consumers globally across consumer goods, real estate, appliances, agriculture and many other businesses.

ALSO READ:

LEAVE A REPLY

Please enter your comment!
Please enter your name here