Wipro To Extend its Product Portfolio

Wipro to give intense competition to P&G and HUL

India: Wipro, with its consumer care and lighting business is planning to extend its range of products to energy drinks, detergents and fabric conditioners, which have an intensifying competition in the market, dominated by global giants such as Hindustan Unilever and Procter & Gamble.

The prime focus of the company is to cross leverage the assets coupled with strong backend integration, which will support the existing system (manufacturing & supply) of the company and help it in creating various strategies for entering new segments.

TechSci Research depicts that the USD877.58 million worth Wipro Consumer Care, which already has 10 international acquisition in a decade, will adapt a similar strategy for its all global acquired brands for tapping new categories under existing brands. The company will foray into some of the untapped market, specially China, Middle East and Malaysia. Further, the company has plans to upgrade its existing product range which includes LED lighting products and women centric cosmetic and skin care products.

According to a recent report published by TechSci Research, “India Women’s Cosmetics Market Forecast & Opportunities, 2020”, the market for women’s cosmetics products in India is projected to grow at a CAGR of 16% during 2015-20. Growth in the market is being driven by increasing consciousness among women regarding their looks, in addition to aggressive advertising of these products. India women’s cosmetics market is highly competitive, and so major players are working towards optimizing their sales, by focusing on product development and innovative packaging to lure more customers. Companies are also roping in different female icons to feature in their product advertisements, as the aspiration to look more like their celebrity idols has been a major factor encouraging sales of cosmetic products in the country. Major players in women’s cosmetics market include HUL, Procter & Gamble, L’Oréal and Himalaya, among others.

According to a recent report published by TechSci Research, “India LED Lighting Market By Type, By Application, By End Use Sector, Competition Forecast and Opportunities, 2011 - 2021”, LED lighting market in India is projected to register a CAGR of over 30% during 2016-2021, due to increasingly affordable prices of LED lights coupled with implementation of LED bulbs distribution scheme by the government of India at subsidized rates. Demand for LED lights in India is predominantly concentrated in the South and North regions due to high population density, increasing urbanization, rising number of government initiatives that encourage use of LED lights, etc. In 2015, LED lighting market in India was dominated by LED bulbs and lamps, followed by LED batten lights; and this trend is forecast to continue through 2021. Philips, Surya Roshni, Havells, Syska LED and Osram are few of the leading players in India LED lighting market. Outdoor lighting applications, which includes street lights, lights in parks, traffic lights, garage lights, parking lots and other public places, accounted for a majority revenue share in India LED lighting market in 2015.