Kaz eyes big growth in the Indian healthcare market
Eyeing big growth in the Indian healthcare market, the U.S.-based Kaz Inc. has introduced its innovative range of products in India that include new range of Vicks products like digital thermometer, forehead thermometer, personal inhaler, vapourizer, vapour inhalants and humidifiers.
“India is an important market…we have another big step to expand Vicks portfolio to improve the lives and well being of Indian consumers. The demand for Vicks products is ever growing and we are confident that India will be the frontrunner in our success,” Kaz Inc. President and CEO Julien Mininberg told The Hindu. Kaz is licensed for Vicks from Procter & Gamble Company since 1995 and is a worldwide leader in healthcare products and small domestic appliances.
“We will be offering innovative technology and best quality products to Indian consumers at competitive prices. Vicks differentiates itself by offering consumers innovation with new technologies, careful research to ensure those technologies are safe and effective, and a strong value. We will also be introducing to India our Braun infrared ear thermometers, which are highly recommended worldwide,” he added.
Stating that Kaz's global turnover was almost $500 million, Mr. Mininberg said: “Our vision is to grow to at least $5 million in sales in India. Our early market research and testing among consumers and retailers in India are looking for high quality, trusted Vicks products to help them care for the health of their families.”
“We have just gotten started in India and are targeting to grow five times in the next three years as we introduce our products to the Indian market.
“We are hopeful that our strong product line-up will be well received. As the market responds, we will continue investing, with the intent of meeting our sales goals,” he added.
Globally, the company's sales have grown over 10-fold through a combination of organic growth and acquisition since 1995. More than half of Kaz sales are in healthcare products such as Vicks and Braun.
About the company's marketing strategy, Mr. Mininberg said the company was looking at massive retail presence to push its sales