Philips draws up plans on mother & child care space

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Philips draws up plans on mother & child care space

Consumer electronics marketer Philips India said it will enhance its presence in the mother and child care segment and aims to be market leader.

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Consumer electronics marketer Philips India said it will enhance its presence in the mother and child care segment and aims to be market leader.

"Mother and child care is a segment where there is huge market opportunity. We feel this is one of the future areas for us, and we are digging deep to understand this market. We intend market leadership in this area," Philips India business Head and Vice-president for consumer lifestyle Anjan Bose told PTI here.

The domestic arm of the Dutch consumer electronic major already sells feeding bottles, teethers, microwave steam sterilizers, pacifiers and small mixers in this  segment.

"Mother and child care is an inevitable business to get into. Next few months in you will see a lot of activity. We feel now is the time to grow in that segment. The planning is just underway," Bose added.

The market size of this segment is estimated at around Rs 2,800 crore.

He said the recent 406-million pound acquisition of England-based Avent, which specialises in mother and child care segment, would be instrumental in increasing the share.

The firm is planning to increase its revenue share from the current 34% to 40% and Bose is expecting a "high double-digit growth" here.

Bose added growth in the personal care segment is almost triple digit. "There is unbelievable growth that is happening in our personal care products. It is a combination of local insights-based solutions supported by innovative campaigns," he said.

The Dutch parent's global revenue stood at 22.3 billion euro in 2010, while Philips India recorded total sales of Rs 3,725 crore in the year, with consumer lifestyle segment contributing to 18% of the revenues.

Bose said the company is bullish on coffee after the acquisition of Italian firm Saeco International in 2009 for USD 242 million, and will introduce Italian coffee in the domestic market.

"We are going into coffee. Coffee to Philips is an experience. You will see us getting active in coffee in the next few months," Bose said, adding the product could be targeted at coffee retail chains as well as households.

"There are lots of coffee chains here. There are also lots of coffee drinkers at home. There will be a wide range of price. It depends on price range. We are just trying to see how we can approach the market," he said.