French skin care brand Bioderma is said to be looking for partners to set up an R&D centre in India. Once volume reaches critical mass, the company would also look to establish a manufacturing base in the country, according to a report published on mydigitalfc.com
“The global skin care market is estimated to be nearly US$160 billion and in most of the markets (other than India), where we operate, we enjoy 12-14 percent market share. We have been a late entrant in the Indian market. At present, we have nearly 1 percent market share in India but, going forward, we have set a target of capturing 15 percent market share here over the next five years. And that’s not a tall order because the Indian skin care market is possibly growing at the fastest rate of 30 percent,” Bioderma’s Chief Marketing Officer, Christopher Billet told FC.
The company is planning further product launches in India, where it currently sells just 17 items from its 200-sku range. “Hopefully, we will have a range of 80-90 products in India over the next five years,” added Billet. “Initially we are present only in A and B segments, that are mostly in the premium range. One reason is the high duty structure. Over a period time, we will be present in the average price points also. Our plan is to be number one in prescription skin care products in Inida. We are also gearing up to make our products available in all leading pharmacy stores and chains, all leading cosmetics stores across the country and on all leading e-commerce platforms. We will also use the social networking platforms to promote our products.”