Himalaya aims to double market share in mens facewash to 20%

first_imgMumbai, May 21 (PTI) Betting big on the male grooming segment, herbal health and personal care firm Himalaya Drug Company is aiming to double its market share in the mens facewash category to 20 per cent in the next couple of years.”We have close to 8-10 per cent market share in mens facewash. We have grown in the last couple of years from being the number fifth player to number third in the segment. We are targeting to get at least 20 per cent market share in the next 2-3 years,” Himalaya Drug Company Business Head Consumer Products Rajesh Krishnamurthy told PTI.The overall facewash market in the country is estimated to be about Rs 1,800 crore at present, with mens facewash accounting for 15-20 per cent of the space.While the overall facewash category is growing at 10 per cent, the mens facewash segment is growing at a faster clip at 15-20 per cent.Himalaya is a market leader in the overall facewash category with 24 per cent share.The company is planning to expand its portfolio beyond facewashes in the mens grooming segment and is evaluating opportunities in hair gels and creams, he added.The mens grooming segment is estimated to be around Rs 5,800 crore and Krishnamurthy said the company has identified sports as a platform to drive its mens segment.Personal care is a key business category for the company, with the segment contributing to 45 per cent of the Rs 2,200 crore turnover, followed by pharmaceuticals (30 per cent), baby care (17 per cent), and animal health and wellness with 4 per cent each.advertisementThe facewash category accounts for half the revenues in the personal care segment for the company.The personal care industry in the country is estimated to be Rs 69,856 crore, with the herbal and ayurvedic segment being 31 per cent of it.The company has over 250 stock keeping units in categories including skincare, oral care, foot care, eye care, lip care and body care.Himalaya has over 200 standalone retail stores and plans to take it to 300-400 outlets in the next three years, he said.”The next growth will come from tier II cities where we are expanding our stores. Today, out of the 200 stores, at least 50 per cent would be in tier II cities,” he said.E-commerce contributes around 1 per cent of the sales but the company is looking at growing it to 5 per cent in the next 2-3 years. PTI DS RSY SRKlast_img read more

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GasLog Partners to Buy LNG Carrier Solaris

first_imgzoom Greece-based GasLog Partners has entered into a deal to purchase 100% of the shares in the entity that owns and charters the liquefied natural gas (LNG) carrier Solaris from GasLog Ltd.The aggregate purchase price for the 155,000 cubic meter tri-fuel diesel electric carrier will be USD 185.9 million, which includes USD 1 million for positive net working capital balances to be transferred with the vessel.GasLog Partners expects to finance the acquisition with cash on hand and the assumption of USD 117 million of Solaris’ existing debt.The transaction is expected to close in the fourth quarter of 2017.Built in 2014, Solaris is currently on a multi-year time charter with a subsidiary of Royal Dutch Shell through June 2021. Shell has two consecutive extension options which, if exercised, would extend the charter for a period of either five or ten years.“Solaris represents the ninth LNG carrier the Partnership will have acquired from GasLog since our IPO, and its multi-year charter to Shell will provide incremental visible cash flows,” Andy Orekar, Chief Executive Officer of GasLog Partners, said.“The acquisition will expand the Partnership’s fleet to 12 wholly owned LNG carriers, increase our contracted days to approximately 90% for 2018 and 72% for 2019, and significantly grow our contracted EBITDA,” Orekar added.last_img read more

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