Marico to launch Kaya in Dhaka
A client takes treatment from Kaya Skin Clinic, a premium skin care salon from Marico Bangladesh Ltd, in Gulshan, Dhaka. The clinic is set to formally start operations on January 18.Photo: STAR
Marico Bangladesh Ltd (MBL) is set to expand its horizon by opening its premium skin care salon, Kaya Skin Clinic, which is set to start commercial operations on January 18.
The decision comes at a time when Parachute, the flagship brand of Marico that is worth $ 477 million (Tk 3,339 crore), dominates over Tk 300 crore coconut oil market in Bangladesh and has been registering double-digit growth for the last couple of years.
Marico also launched its initial public offering (IPO) in 2009, to raise more than Tk 13.42 crore from Bangladesh capital market.
Each Marico share was traded between Tk 498.20 and Tk 524.90 yesterday on the Dhaka Stock Exchange (DSE), according to DSE data.
The company, which began operations in Bangladesh in 2002, markets well-known brands, such as Parachute, Aromatic, Camelia, Hair Code and Beliphool.
According to the MBL website, it holds a leading position in the fast moving consumer goods (FMCG) market in Bangladesh. Products of the company, including coconut oil, hair care and skin care products, reach more than 4.5 lakh outlets in Bangladesh.
“We are here to cater to the needs of the
beauty-conscious local population, since we have seen that the market for skin care services in Bangladesh widened a lot in the last few years,” said Soumendra Sankar Das, head of marketing of Marico Bangladesh Ltd.
“What is unique about Kaya is that we provide services by creating awareness about the need for dermatological tests, prior to providing any service,” he said. “Since Kaya has gained expertise in understanding South Asian skin type in the last seven years, it will help us succeed here.”
Kaya's first outlet is in Gulshan, and the company plans to set up five more salons across the country in the next three years, Das said.
The salon offers services for both men and women in three segments -- enhancement, problem solution and age control, while the Food and Drug Administration of US approves all services, said the marketing boss.
Kaya, which started operations in September 2003 in Mumbai, now has 101 salons, including 83 in India and 17 in the Middle East.
The market for beauty care services in Bangladesh started growing mainly in the last decade, which is now a more than Tk 100 crore industry.
The reason behind the sector's growth was increased beauty consciousness among women and a desire to take care of one's appearance, especially among the urban middle class.
At present, there are a few thousand beauty salons across the country, providing employment for an estimated 1,00,000 people, of which 99 percent are women.
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