Spinz, the deodorant brand of the Chennai-based FMCG major CavinKare, is out with its latest fragrance, Spinz Sensitive. It also marks the culmination of the revamp exercise that the brand undertook 18 months back, spearheaded by Nellaiappan Thiruambalam, who was appointed as director and CEO of the personal care and foods division in April 2013. His last assignment was as CMD of Heinz India and he has had three decades of experience in consumer goods, holding management positions at GSK and GE Lighting.
However, Thiruambalam says that the deodorant (deos) segment is seeing such competition that players would have to revamp their products more frequently. The highly-contested Rs 1,800-crore body spray market has been seeing a constant stream of entrants, including ITC, and growing at 8.5 per cent. Even then, India remains one of the the lowest-penetrated markets in the world with around 10-11 per cent.
Deos for women contribute around 30 per cent to the market, while the rest go to men's deos. But, it is the women's market which is growing faster, at 13.9 per cent, over the relatively higher penetrated men's category, growing at 7.4 per cent according to market estimates.
"We did not lose our market position of being the fourth largest brand, despite a lot of new entrants (both domestic and foreign brands)," Thiruambalam claims.
However, Spinz has grown at 9 per cent, slower than the women's category. The brand has also faced stiff competition from Fogg by Vini Cosmetics, launched only a few years back. The brand by Darshan Patel, the ex-co-promoter of Paras Pharma, has already scaled to the third position in women's deos.