McNROE focuses on overseas markets to beat slowdown

McNROE, one of the leading players in the deodorant market in the country, has started focusing more on exports to beat slowdown in the domestic market, a company official said on Sunday. The fragrance maker said the thrust on the international markets would help the company to increase revenue by 20-30 percent in the next few years.

"We continue to see the slowdown. Demand has not picked up yet, mainly in the rural market. To counter this, we have decided to focus more on exports," McNROE Consumer Products Managing Director N K Daga told PTI. The existing pessimism in the market forced the city-based fragrance major to postpone its plan to foray into new categories in consumer products segment that would allow the company to broaden its products' portfolio and to minimize the risk.

"We have decided to expand our footprint in new markets like Malaysia, Thailand, and Dubai. We will continue to give thrust to expand in existing overseas markets such as Bangladesh, Nepal and Sri Lanka," he said. The company has upgraded the packaging and created new Indian fragrances that can compete on the global platforms, he claimed.

Speaking about the domestic market, Daga said that there is "no sign of revival" in West Bengal despite the state's biggest festival, Durga Puja is just around the corner. "Festive demand should have picked up in advance, but we don't see any major demand from outlets despite promotional schemes," said the founder of the Rs 360 crore company.

McNROE, which has two flagship brands, 'Wild Stone' for men and 'Secret Temptation' for women, is betting big on monsoon for the revival of demand, mostly from rural India, he said. "Things are expected to change in the next 3-6 months, and we are banking on monsoon," Daga said.

The company has a market share of about nine percent in the organized deodorant market, he said adding that the company has launched three long-lasting fragrance products to strengthen its portfolio for women.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)