Thursday 5 March 2015

Godrej Consumer Products Acquires Frika Hair

MUMBAI, India — Godrej Consumer Products Ltd., a strong player in the Indian personal care market has just enlarged its global footprint. Godrej, a leader in the Indian hair market, has ramped up its regional influence by acquiring Frika Hair (Pty), a South African hair extensions company. In addition to hair care, the company also has a strong foothold in the mass hair color market. It also has a strong position in skin care. Over the last year, the company has ramped up its 60-year-old personal care brand Cinthol, adding to its beauty soap category with launches in new segments, such as face wash. With international sales being a little more than half of its Rs 75 billion ($1.2 billion at current exchange) turnover in 2013-14 — the financial year ends on March 31 in India— Godrej has been building up its footprint in the Middle East, Asia and Africa. Africa has been an important market for the company, with an estimated $200 million revenue coming from the continent. Godrej has enlarged its presence there with acquisitions. This has been strengthened with acquisitions of local African companies. “We remain very excited by the tremendous potential of the African market and look forward to further building

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