Bajaj Almond Drops- one of India’s Most Trusted Brand in the Light Hair Oil Segment
Bajaj Corp Ltd is part of Bajaj Group which has interests in varied industries including Sugar, Consumer Goods, Power Generation and Infrastructure Development. Bajaj Corp is the second largest company in the Shishir Bajaj Group of companies. The history of Bajaj Corp dates back to 1953 when Mr. Kamalnayan Bajaj established Bajaj Sevashram to market and sell hair oils and other beauty products.
Bajaj Corp Ltd is the 2nd largest player in the overall hair oils segment with the Key brand – Bajaj Almond Drops Hair Oil.Bajaj Corp manufactures and markets other major brands i.e. Bajaj Brahmi Amla, Bajaj AmlaShikakai and Bajaj Jasmine Hair Oil. In 2013, the company acquired the Nomarks Brand, in line with the Vision of the Organization. With this acquisition, they have also ventured in to the 9000 Cr Skin Care Category.
The company and has grown at a very healthy rate over the years. The growth rate in terms of CAGR and absolute exceeds the category as well as the Industry standards.
Executing a complete turnaround: Mr Sumit Malhotra, Managing Director of Bajaj Corp Ltd.
When Mr Sumit Malhotra took up the Leadership role at BCL, he quickly set about transforming the business.
He had joined the Company as the President – Sales and Marketing of Bajaj Consumer Care Ltd in 2004. He was appointed as the Managing Director of Bajaj Corp Ltd since August 8, 2011.
In 2004-05, the company had an annual sales figure of Rs68 crore; however, by 2017, it recorded close to Rs 850 crore. This turnaround in business has been one of Sumit’s achievements.
In terms of Sales and Distribution, since his association with the company, the distribution system has taken a quantum leap from being at 48% in 2004-05 to being at 92% till the 2017-18. Bajaj Corp Ltd products are currently available and are marketed by app 38 lacs outlets pan India.
Under his inspiring leadership, the company has been able to create a strong brand recall and equity of Bajaj both in the rural and urban markets. This unique positioning and competitive advantage has enabled the company to witness exponential growth.
He has over 28 years of experience in the FMCG industry. He holds a bachelor’s degree in pharmacy with honor’s from Institute of Technology, Banaras Hindu University, Varanasi and a post graduate diploma in business management from IIM, Ahmedabad.
With Business Growth at the top of his agenda, his priorities are to create BCL as a process driven and a complete FMCG organization.
Bajaj Almond Drops, its flagship brand was launched in 1998 to meet the growing preference for light hair oil.Introduced as a premium non-sticky light hair oil with a core proposition of almond nourishment and 300% Vitamin E, the brand gained immense popularity especially among younger generation due to its light texture and its possibility to curb incessant hair problems. For people who consider oiling as a messy solution, Almond Drops is a lucky break. This oil is a boon for people having an aversion to strong fragrance.
Bajaj Almond Drops Hair Oil, is sitting on top of the success ladder with 61% market share in the Light Hair Oil Segment and 14% share in the total hair oil market. The premium positioning of the brand commands one of the highest per unit prices in the industry. At present, Bajaj Almond Drops is present over 3.8 million retail outlets across the country. At the same time, it has a mass presence with its usage in approximately 4.81 crore households in Pan India.
Branding, the art of becoming trustable
In the age of mistrust, where multiple information sources are shaping consumers’ decision in a numerous way, having an authentic brand connecting with the consumers’ real need is imperative. Consumers’ trust brands which understand their requirement and address their hair problems in a smart and an effective way. Brands that are able to leverage these opportunities enjoy a stronger trust quotient. Bajaj Corp Ltd endeavor has therefore been to help consumers look good, feel good and get more out of life by addressing their existent needs.
For over two decades, Bajaj Almond Drops has been a trusted brand because of its proficiency in delivering a hassle-free way to oil and nourish hair. It has been able to meet the demands of the consumers with its unique formulation that holds the goodness of almond oil and extra vitamin E for hair nourishment. Its non-stickiness, fragrance, and contemporary packaging, together, contribute to a very loyal consumer base for the brand.
Customers for Bajaj Corp are the 3.8 Million Retail Outlets across the Country that stock and keep Bajaj Almond Drops to category service the consumers’ demand. Over the years, the marketing communication of the brand has been consistent and at the same time relevant to the consumer audience. They have numerous consumer engagement programs to strengthen their relationship and association with their consumers. The Bajaj Star Club is one such initiative. Consumers’ Trust is measured twice a year through a periodic survey to keep a check on their preference and seize relevant feedback. A new initiative has also been taken to make the brand accessible to even the remotest part of the country.
Strategy scores triumph over challenges
“A smooth sea never makes good sailors”. Similarly, impenetrable barriers and challenges were embraced by the strategy and confidence of Bajaj Corp Ltd.
A constraint in manpower, resources and investment at the initial stage was a limitation for the organization. Bajaj Corp eventually shifted its focus on Almond Drops as the sole brand in order tochannelize all the resources to build one brand in terms of consumer base and distribution reach.
With the advent of digitalization, there is a need to make smart choices on what is relevant for the brand and the message. The marketing programs of Bajaj Corp Ltd, therefore, have been designed keeping in mind its objective of promoting healthy lifestyle along with its belief of touching the right points to reach the targeted audience.
For Almond Drops, Bajaj Corp Ltd leverages a combination of media platforms including digital, to effectively deliver the right message to the masses.
In our recently concluded Guinness World Record Activation, digital platforms like Facebook, Instagram &Twitter and PR coverage online and in print were utilized to generate buzz around the campaign. This particular approach helped deliver a fantastic Return on Investment.
Up to the Minute
Bajaj Almond Drops is a trusted brand for over two decades now. The brand is able to provide nourishment of the hair because of its unique formulation which has the goodness of Almond Oil and Extra Vitamin E.
As a part of its growth plans, Sampling, Targeted Advertising Campaigns, Product Innovation and Creating Awareness about Product Differentiation will help convert coconut hair oil users to light hair oil users.
Bajaj Almond Drops presently has 61 percent market share in value terms, the firm is targeting a share of 65 percent by the year 2018-19 in the light hair oil category. The company intends to leverage the platform developed by Almond Drops Hair Oil to continuously add more products to the Hair Care and Skin Care portfolio with differentiated value for consumers and have a balanced product portfolio.
An Innovation Center at Bajaj Corp Ltd has recently been set up to fuel the company’s Innovation Pipeline. Company marked its presence in other the sub-segments as well, through the Innovation funnel. It is poised to increase its offerings, a case in point is the Brahmi Amla Ayurvedic Hair oil, the only Ayurvedic Amla hair oil and legacy brand which has been restaged to highlight its Ayurvedic credentials. The firm also emerged into the Value-added coconut oil through Bajaj Coco-Jasmine.
Apart from hair oil, Bajaj Corp Ltd has presence in the Skin Care Category with Nomarks range of products. Bajaj Nomarks Cream was the first ever anti-marks cream in India and is completely Ayurvedic in its formulation. Bajaj Nomarks also has a facewash, scrub and a face pack to take care of your facial marks. Few other products are queued which are to be introduced shortly for Bajaj Corp Ltd to flourish as a diversified consumer products company in hair and skin care.
Milestones of the Organization
Incorporated by Jamnalal Bajaj, the Bajaj Corp Ltd is the second largest player in the complete hair oil segment.
Under the leadership of Sumit Malhotra-Managing Director; the organization has achieved remarkable milestones:
- Elevated from a 60 crore company in 2005 to 850cr company in 2017
- First ever company to introduce sachets for hair oil
- Introduced light hair oil category
- Present Market leader in total hair oil category
- Acquisition of NOMARKS range of products
- Increased distribution by 25% and doubled sub-stockiest
- Entered into Guinness World Record
Eager Anticipation of the Future
The company strides on the path of success. It is stepping towards positioning itself as a complete FMCG company to maintain a balanced product portfolio. It seeks to hit 1000 crore turnover with double-digit growth.