Godrej group on Friday unveiled a new vision: tripling the revenues of its fast moving consumer goods portfolio by 2012.
The ambitious target follows the company's brand makeover and new strategies line-up. It is also targeting an aggressive profit growth of 25-30% annually along with greater brand visibility.
Adi Godrej, group chairman, said, "Godrej Sara Lee, Godrej Consumer Products Ltd and Godrej Hershey Foods and Beverages Ltd will together take the current Rs 2,300 crore business to Rs 8,000 crore by 2012."
These three companies will together spearhead the growth for the group under the leadership of A Mahendran, who currently heads Godrej Sara Lee. The growth would come from new product launches, relaunches of existing products and providing improved consumer experience.
"The international business contribution to the business will increase. We are also looking at inorganic growth, especially in developing countries such as South Africa, China and Nigeria" said Godrej.
Godrej has bought Rapidol, Keyline and Kinky brands overseas in the last couple of years. International business contributes 20% to its total revenues currently.
The group also unveiled its new logo in vibrant colours of blue, green and ruby red.The process of revitalising the Godrej brand into an aspirational lifestyle brand, especially to the younger consumers, has begun.
Like the efforts of Hindustan Unilever andof pushing the brand along with their products, Godrej will bring the master brand into the limelight and start a symbiotic process where the master brand 'Godrej' and sub-brands such as Good Knight and Cinthol will leverage more value from each other.
Tanya Dubash, executive director and president, marketing, Godrej Industries said, "Building a portfolio strategy to maximise brand value and executing a Godrej master brand endorsement across product architecture will be our focus. For this, we will create and invest in creating strong brands via Renew, Expert, Interio and Eon."
The four categories — personal grooming, properties, furniture and appliances— will be called "Hero" categories, requiring disproportionate resources to lead the growth.
For media communications alone, the group has set aside Rs 100 crore a year.