Godrej Launches Global New Valon Body Lotion
Indian conglomerate Godrej Consumer Products Limited has endorsed its commitment in scaling up its presence in the region with the launch of Valon Body Lotion in Kenya, a first for the global company.
Godrej Chief Executive Officer (CEO) Mr. Rohit Vengurlekar said that the launch of Valon Body Lotion is part of the company’s commitment to providing East African consumers with superior quality products at great price points.
“We have invested heavily in the Valon Body Lotion’s research and development to deliver superior skincare products at a great value for the Kenyan consumer,” said Mr. Vengurlekar.
With a 42 percent market share in petroleum jelly, Godrej is seeking to leverage on Valon petroleum jelly’s 45-year brand presence, heritage and equity in Kenya to penetrate the body lotion segment.
“Today, Kenya’s skincare industry is worth more than 102 million dollars and its outlook is very positive in the coming years with growth in both volume and value. Industry analysts are looking at recording a value compound annual growth rate (CAGR) of 4 percent over the forecast period to reach 137 million dollars by 2022. As Godrej, we remain very excited by the tremendous potential of the Kenyan market and look forward to further building our business,” said Mr. Vengurlekar.
Mr. Vengurlekar added that the Valon Body Lotion launch follows market research that shows an expanding and discerning consumer base that is seeking more natural ingredients and variants in their skincare products. The leading preferred natural ingredients among Kenyan consumers are cocoa butter and shea butter; milk and coconut; aloe vera; and glycerine.
According to Euro monitor’s Skin Care in Kenya 2019 report, premiumization of products is driving stronger revenue opportunities for retailers. This is as a result of Kenya’s youthful and aspirational middle-class who is seeking to stock products that offer exclusivity.
The report further highlights that more consumers prefer formulations that contain organic and natural ingredients. This is because of pollution, which along with sun exposure can cause premature skin aging.
There is also continued growth and dominance of affordable mass products. Many mass brands are also trying to offer products that can be seen as exclusive in their own way, in terms of natural enhancements or improved packaging that appeals to a wide consumer group.
“Customers and consumers can find the new product range in Soothing Aloe & Avocado Oil, Nourishing Cocoa Butter, Renewal Glycerin & Vitamin E, and Hydrating Milk & Shea Butter variants”, says Pauline Kamau, Personal Care Category Manager at Godrej.
The Valon Body Lotions will sell at the recommended retail prices of 50 shillings for 100ml, 95 shillings for the 200ml, 155 shillings for 400ml and 215 shillings for the 600ml.
Even as the market segment grows, players in the industry are looking at launching more brands with a special focus on natural ingredients. A focus by men on personal grooming is also bound to see a rise in the men’s care segment.