Eveready Industries India Limited is eyeing a 75-100 per cent growth in the lighting and home appliances category, which they diversified in 2013 and 2016 respectively. Currently they have garnered close to 7-8 per cent growth, which explains the company’s current focus into this category. Anil Bajaj, Sr. Vice President – Marketing and Sales at Eveready, shares, “We have a long way to go. We are looking at 75-100 per cent growth this year from our exit figure of Rs 100 cr last year. So that will be Rs 175-200 cr.”
The company recently celebrated 25 years of their iconic tagline 'Give Me Red' with the unveiling of a new logo. Bajaj explains, “In its current avatar of GMR - Infinite power meets vibrancy and new age thinking. RED 'infinity' symbolises limitless energy, power, enthusiasm and stamina – the very core of the Give Me Red ethos.”
The intention is to build the next 25 years on ‘Give Me Red’ especially in newer categories. Bajaj explains, “The strong connect and faith we have with Eveready should be able to be extended to more products that we bring out.”
Bajaj ensures that the storyline of media communication will remain untouched, with few exceptions. “We will continue to spend 3-4 per cent on ads. The media mix may charge more in favour of online. Newer means will be there.”
Brand ambassador - Bollywood actor Akshay Kumar- unveiled the AVs on the journey of the iconic tagline over the past 25 years. Timed at 30, 60 and 90 seconds, the AVs will be on the brand's YouTube channel and also website. “Digital comprises 7-8 per cent of the marketing spends. TV and print will roll in another 15 days. On TV, lighting will be the focus,” adds Bajaj.
Early this year Eveready launched ‘Jollies’ in the Rs 9,000 crore plus confectionery market, which has had a good response, says Bajaj. “It has done well because of quality and our distribution network. In another six months we will be able to share the numbers.”
Eveready's plans to get into newer categories are led by brand fit and distribution channel. Bajaj explains the expansion strategy saying, “Wherever I have a good distribution and brand fit I will get into it. Also the need to get into newer categories to grow my topline is to first grow my bottomline. For that the present focus is on lighting and appliances. As I said, we have a long way to go. The packaged foods and confectionery categories have started coming in. We are reviewing the categories we are getting into. We will review later whether they will get into bottom line or not.”
The marketing sales head mentions about getting into more categories of confectionery namely Hard Boiled Candy (HBC), chewing gums and lollipops over the next six months to a year. In three to six months they are looking to have the HBC portfolio and next six months into other categories. When asked if they have planned any communication around the same, Bajaj says, “We will take the call when we are a larger player in the portfolio.”
Speaking of early 2018, when it entered into a joint venture with Indonesia’s Universal Wellbeing, part of the Wings (country’s largest FMCG player) group to engage in the business of manufacturing, importing and marketing of FMCG in India, Bajaj adds, “Those products will start hitting the market in the next four to six months down the line."
The brand commands a 60 per cent market share on dry cell battery and 80 per cent on flashlights. About 57 per cent of its revenue is reported to come from the sale of batteries while 14 per cent from flashlights, according to media reports. “Our torch and battery business is strong and stable,” Bajaj says.