VVF forays into hair dye segment

September 22nd, 2011 - 8:57 pm ICT by IANS  

Kolkata, Sep 22 (IANS) Leading oleochemicals manufacturers VVF Ltd Thursday launched a powder hair dye and hopes to tap the Rs.1,000 crore market for the product in India.

“The total hair dye market in India is Rs.1,600 crore, of which the powder dye segment is Rs.1,000 crore. With our new product we hope to be a major player,” VVF Ltd personal care products president Rashmin Joshi told reporters here.

“Only four major players account for 60 percent of the market. So, there is ample space for a fifth player,” he said.

The company has roped in former Indian cricket captain Sourav Ganguly as brand ambassador for the product.

Asked if he would use the product, Ganguly ran his hand through his hair and said: “The time has not yet come for me. Will see when the need be.”

The firm, a leader in contract manufacturing of bar soaps for several FMCG giants, said it has forayed into the hair dye market after surveying that the product demand would go up manifold as 65 percent of the country’s population is below 35 years of age.

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