Haleon has been witnessing strong double-digit growth momentum in the India market. The company, known for its product portfolio that includes Sensodyne, Eno, Crocin and Centrum among others, globally has set a goal to reach one billion additional consumers by 2030. It believes growth markets such as India will play a key role in achieving this goal. The consumer products company may also look at inorganic growth opportunities.
In the Q1 earnings call, Haleon’s global management said, “India continues to be our star. In India we grew double-digit with excellent in-market execution…Sensodyne grew at five times the rate of the category with significant market share gains. Overall, our growth was balanced across price and volume mix.”
Kedar Lele, CEO-India and President ,India Subcontinent, Haleon said that India has been witnessing double-digit growth in the country while strengthening market share and aims to further accelerate this growth momentum. “Globally we have a stated the goal of serving one billion additional consumers by 2030 and we believe growth markets like India will play a key role in achieving this goal. We will be strongly focused on growing product penetration and expanding distribution reach,” he said.
New consumers
In its global Q1 earnings, Haleon noted that the launch of Sensodyne at ₹20 has widened the brand’s reach with nearly 70 per cent of units being purchased by new consumers.
“In the past 18 months, we have doubled our distribution reach in India. Nearly a quarter of our sales now come from rural regions. We want to strongly grow the household penetration of our brands.” Lele stated.
Asked if the company is looking at inorganic growth opportunities in India, Lele said, “ We are mapping out possible opportunities. It will be one of our priorities. One one hand we want to grow our core business, on the other hand we also want to bring in brands that can add that additional heft to our portfolio.”
Meanwhile, the consumer healthcare company is also looking to expand into adjacent categories. “ Our brands enjoy a strong brand equity and we are looking to expand them into adjacent categories to leverage on it,” he noted.