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It seems Unilever, which once lorded over the Indian deodorant market with Axe—homegrown brand Fogg dethroned the multinational giant in 2013—has found its elusive ‘Ticket’ to revival.
In its latest investor presentation for the Q2 results, Hindustan Unilever talked about ‘impressive growth’ in its deo business. Axe Ticket, a pocket-sized pack at ₹65, continued to gain traction and is ‘reshaping the category for HUL’, the company said.
It’s rare for HUL, reckon analysts tracking the FMCG market, to talk about its deo brand in glowing terms. For a brand that was launched in February, the growth indeed has been impressive, says Abneesh Roy, senior vice president of institutional equities at Edelweiss Securities. “This shows the power of innovation,” he says. Pocket-sized pack, he adds, is convenient as it can easily be carried by consumers.
For HUL, which claims to be delivering a ‘strong market beating growth with Ticket’, the product is not only about value-for-money but also expanding the deo category. The Ticket pack format offers a user high value with 250 sprays in just ₹65, which is almost a two-month pack for many new users. “Ticket continues to grow every month and is delivering on the key objective of getting new users into brand Axe,” says the HUL spokesperson.
(This story appears in the 09 November, 2018 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)