New Delhi (IANS) Innovating its way to become a Rs 1,000 crore consumer spend brand in FY21, health and hygiene products major ITC Savlon has entered into the PPE sub-segment.
Traditionally, known for its disinfectant liquids and soaps, the foray comes on the back of Savlon's strategy to introduce new and innovative products.
Recently, it launched the BIS certified 'FFP2 S' mask.
In a conversation with IANS, ITC Personal Care Products' Chief Executive Sameer Satpathy said that recently launched innovative products have led Savlon to record significant market share gains across sub-segments.
In less than a year, the company has introduced a number of new products, including surface and clothes disinfectant sprays, sanitisers, and germ protection wipes.
"ITC Savlon recorded significant market share gains across sub-segments and is on the course to become a Rs 1,000 crore brand in terms of annual consumer spend in FY21," Satpathy said.
"Innovation is at the core of ITC's personal care business. Sharper consumer insights and expertise in product development have led to some of the most innovative product introductions."
He pointed out that consumers are looking for trusted brands to help them make choices for products in new categories.
"Savlon gives them that assurance of a quality product."
According to Satpathy, innovation accounts for more than 30 per cent of ITC's personal care business.
"Consumer observations and insights coupled with the expertise in R&D have helped in increasing the pace of innovation. A wide range of innovative and first-to-market products have been introduced in record time."
"This will continue, and in the next few months more innovations across categories will be launched."
In 2020, the ITC brand witnessed an accelerated pick-up for its range of antiseptic disinfectant liquids, sanitisers, handwashs and soaps, so much so that the demand generated due to the pandemic outstripped production by several times.
Consequently, ITC had to even repurpose its perfume facility to produce an additional 1.25 lakh litres of hand sanitisers.
"We have increased capacity and ramped up production of the hygiene products. The core categories too have increased 3X-5X," he said.
"ITC has opened around six new sites of manufacturing and roped in partners to meet the demand."
Furthermore, he pointed out that pandemic has changed consumer behaviour and needs.
"There is an exponential increase in the demand for the health and hygiene brands like Savlon and Nimyle. Consumers are looking for both safety and supply assurance," he elaborated.
"We have been doing a lot of consumer work digitally and have converted some of the observations into actionable insights. We have also reached out to our global partners to understand and assess the global situation and develop some foresight into the situation in India. We have used these endeavours to reorient our innovation programme into the new reality."