Comments
French skin-care brand Bioderma, specialising in dermatological solutions, is looking to strengthen its presence in India.
Bioderma, which began operations in India last year, is looking to expand to the Southern and Eastern States next year (2016) onwards.
According to Christopher Billet, Chief Marketing Officer of Bioderma, the company is betting big on the skin-care market here and is eyeing a turnover of €10 million from India operations by 2020.
By 2016 (it follows a calendar year for accounting purpose) its target turnover is €1 million.
“In the coming days, say within the next 5 years or so; and when we have achieved a turnover of €10 million, India will be amongst the top 20 markets for us,” he told BusinessLine .
Headquartered out Lyon (in France), nearly a third of its turnover comes from the home country. In 2014, it reported a turnover of €252 million.
Expanding Presence According to Billet, the company will soon expand (within India). Expansion would also mean adding new pharmacies where the drug will be available.
At present, most of Bioderma’s offerings are sold against a prescription; that is, on recommendations or referrals by dermatologists.
Products can also be purchased over the counter (without prescriptions); but the company will prefer to establish itself first through the dermatologist and a greater presence across pharmacies.
The French skin-care brand has earmarked nearly 50 per cent of its turnover as spends towards marketing.
Product Portfolio Plans are also afoot to increase the product portfolio to 80 over these five years. At present, Bioderma has a portfolio of seven products that include ones for sun protection; acne prone skin; cleansing and make-up removal; skin lightening; for dry skin; skin repair and for hair care. Globally, it has around 200-odd products.
“Initially, we will be going slow with new launches. We want to establish our reputation. But the target is to have close to 80 SKUs over this five-year-period,” he said.
Manufacturing locally (in India) will be considered once the company is able to achieve volumes here.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.