Personal care brand Joy, owned by RSH Global, is targeting an annual sales growth of around 20-25% to reach sales of Rs 1,000 crore ($122.4 million) over the next three years.
The company has been expanding its omni-channel presence across the country and studying the possibility of entering new markets along with online expansion to achieve its goals.
Joy is expected to end the current financial year with a revenue of Rs 500 crore and look to tap new markets to further drive growth in India.
In the coming years, the company will focus on the West Bengal and Maharashtra markets, followed by penetrations into Bihar and Gujarat.
“The personal care industry in India, estimated to be worth nearly Rs 20 trillion, is growing at 10-12%, while the company has registered almost double that growth. Sunil Agarwal, President of RSH Global told Businessline that with growing wealth and increasing consumer awareness, demand for such products is expected to increase in the future.
“Maharashtra and West Bengal account for almost 20% of total sales of skin care products in the country. Our focus will be on these two States for the next three to four years and then we will start looking at Bihar and Gujarat,” added Agarwal.
Kolkata-based Joy brand has a strong presence in the personal care segment in India. It retails nationwide through its strong distribution network and e-commerce channels.
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