ITC eyes top position in deo market

ITC eyes top position in deo market
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Kolkata, Mar 29: FMCG-to-hotel-to-tobacco major ITC is eyeing the top slot in the growing deodorant market following its second major disruption in the segment in the form of unveiling a two-in-one pocket perfume spray, first in its category under Engage ON brand. Currently, Engage is India’s No. 2 deodorant brand, according to Nielsen data, with a hold of nearly 11% of India’s deo market while Fogg is the market leader with 18% market share in a Rs 3,047-crore segment nationally.
ITC made its first major disruption in the deo market with the introduction of a pocket deo in 2017, which was later followed by others like Park Avenue, Wild Stone and Axe.
Sameer Satpathy, chief executive (personal care), ITC, pointed out that Engage is growing at 17-18% for the last three years, including the deodorant market, and the pocket perfume segment is its major growth driver. Pocket perfume segment is now 4% of the total deo market going by the value. The ITC top brass is hopeful that Engage would take over Fogg gradually.
Owing to a healthy CAGR for the last three years, the deodorant market has also grown from Rs 2,365 crore just two years back to the current level of over Rs 3,000 crore. Engage, too, has crossed the Rs 300-crore mark, and is eyeing the Rs 500-crore mark in next two-three years.