New Delhi, Jan 28 (PTI) Italian male grooming personal care brand ‘Depot The Paint Tools & Co’ has plans to strengthen its presence in India by taking distribution reach to 120 salons from the current 40 by the end of this fiscal. Also Read - UFO Spotted in Ludhiana? Residents Claim They Saw a Shiny Unidentified Object in Sky | Watch Viral Video
The Italian brand had made its foray into India in September last year through an exclusive distribution tie-up with Mumbai-based SSIZ International, which sells its products through premium salons in select cities of the country. Also Read - Farmers to Hold Mahapanchayat in Punjab Today in Protest Against Farm Laws
“We are looking at expanding our distribution reach to 120 salons by the end of this financial year. We are also looking at selling our products through premium boutique stores, gyms and designer stores going forward,” Rayed Merchant, Director, SSIZ International, said. Also Read - Go Green! IRS Officer Uses Waste Plastic Bottles to Create Vertical Gardens in Ludhiana
Merchant said male grooming is a niche segment in India at present and set to grow at a faster pace in future.
Depot at present sells its products in five categories, including shampoo, conditioners, shaving and styling products, and is also planning to launch fragrances and body care products by early next fiscal, Merchant said.
Depot products are priced in the range of Rs 600-3,250 in India.
Depot at present has presence in cities like Delhi, Pune, Mumbai, Bengaluru, Ludhiana and Hyderabad.
The brand will also soon enter Kolkata and Chennai.
According to an Assocham report, the male grooming industry is expected to touch Rs 35,000 crore in the next three years from current Rs 16,800 crore, helped by rising aspiration among men to look better and rapid urbanisation.
Interestingly, men in the age group of 25-45 outpace women in spending money on grooming and personal care products, the report noted.
Last month, homegrown FMCG major Emami announced it is acquiring 30 per cent stake in Helios Lifestyle that owns male grooming brand ‘The Man Company’.
The Man Company offers premium men’s grooming products in bath and body, beard management, shaving and perfumes category and are sold online majorly through the company’s own website Themancompany.com.
This is published unedited from the PTI feed.