Business OpportunitiesGlaxoSmithKline to launch up to 12 products this year
Aiming to maintain a growth rate of around 18-22 per cent, FMCG firm GlaxoSmithKline will this year introduce around 10-12 products, including some from the international portfolio of its parent company.
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"We want to create a balanced product portfolio and for that the company is constantly expanding its offering. In the current year, we may introduce around 10-12 more products in India," GlaxoSmithKline Consumer Healthcare Executive Vice- President (Marketing) Shubhajit Sen told PTI.
The company has already launched Horlicks Bar and Junior Horlicks Biscuits, and will soon introduce more such products.
On the launches from the GSK international"s product portfolio, Sen said the company is currently test marketing a new product Breath Easy in India.
He said, "We have started carrying out test marketing for the product in South and hopefully we will be launching it this year."
The company had a sales of Rs 1,592 crore last year, of which around Rs 1,200 crore came from Horlicks.
Sen said the company is working on enhancing the nutrient level of its existing products besides focusing on penetrating deeper into the market.
"Our focus for this year will be on the health category. We are planning to increase the micronutrient elements of our existing products besides introducing some new categories," he said.
Sen said the company is focusing on increasing presence in the rural markets, which contribute around 30-35 per cent of the overall turnover.
"We will keep increasing penetration across the country. Though south and east Indian markets have been doing well, we still feel there"s lot of scope for growth in the smaller towns there," he said.
He, however, did not reveal how much the company is planning to spend on various activities lined up this year but said the company earmarks around 12-13 per cent of its sales on marketing and promotional campaigns.