Veet Brand Extension
Veet, world’s No.1 depilatory brand was launched by Reckitt Benckiser in India in 2004. Its competitors include Anne French, Fem and other local players such as V John, Nair and Jolen. Its brand personality includes the traits of ‘Beauty’, ‘attractive’, ‘success’ & ‘modern’. The brand has captured a significant market share in the hair removal category, that too in a very short span of time.
However the use of depilatory creams in India is mainly associated to hygiene depilation rather than beauty depilation. Women prefer other methods of depilation such as waxing, threading, epilators for beauty depilation. This forms a large untapped market, which is why the brand launched Veet wax Strips. Also to establish itself as a beauty brand, Veet has been endorsed by Katrina Kaif to boost its personality. Anne French has been present in the market for more than four decades and thus is perceived as a brand for the older women. Today the number of working women in India is on a rise which has lead to an increase in the number of Western apparels in one’s wardrobe. This is also the reason why Veet has enjoyed a clear functional over its rival brands.
There are immense opportunities, once the brand gets perceived as a beauty brand. However very specific aspects need to be worked on to establish this transition. The segments that can be entered in the personal care space and the differentiations to be used while entering these segments need to be considered as well.
BRAND EXTENSIONS
In order to increase a brand's equity, a common strategy is to extend brands. Brand extensions allow companies to reduce risks and costs of launching new products; increase sales/profit and market share; and be able to ask a premium price. They may also enhance and facilitate a brand's awareness; increase the consumer perceived value of brand, widen a brand's attributes and add value to a brand. For successful brand extensions, consumers have to be able to expand the scope of the brands
However the use of depilatory creams in India is mainly associated to hygiene depilation rather than beauty depilation. Women prefer other methods of depilation such as waxing, threading, epilators for beauty depilation. This forms a large untapped market, which is why the brand launched Veet wax Strips. Also to establish itself as a beauty brand, Veet has been endorsed by Katrina Kaif to boost its personality. Anne French has been present in the market for more than four decades and thus is perceived as a brand for the older women. Today the number of working women in India is on a rise which has lead to an increase in the number of Western apparels in one’s wardrobe. This is also the reason why Veet has enjoyed a clear functional over its rival brands.
There are immense opportunities, once the brand gets perceived as a beauty brand. However very specific aspects need to be worked on to establish this transition. The segments that can be entered in the personal care space and the differentiations to be used while entering these segments need to be considered as well.
BRAND EXTENSIONS
In order to increase a brand's equity, a common strategy is to extend brands. Brand extensions allow companies to reduce risks and costs of launching new products; increase sales/profit and market share; and be able to ask a premium price. They may also enhance and facilitate a brand's awareness; increase the consumer perceived value of brand, widen a brand's attributes and add value to a brand. For successful brand extensions, consumers have to be able to expand the scope of the brands