Elder Health Care, the FMCG arm of the 800-crore pharma major Elder Group, has entered into a licensed deal with Japan’s $1.6 billion Pola Chemical Industries to market its skincare and cosmetic products. While the company will initially distribute Pola’s skin whitening cream and gel, it plans to extend the partnership to anti-ageing products, beauty treatment and fragrances. “We will sell the products through retailers as well as dermatologists and cosmetologists. The Pola range will be positioned in the premium segment and we expect that this portfolio alone will generate sales of around 20-22 crore within three years. In the long run, we will have a complete range of premium products from Pola’s portfolio. The deal is expected to help the company consolidate presence in the 3,500 crore skincare market in India, growing at 20 percent annually”, says Anuj Saxena, Managing Director, Elder Health Care. With this tie up, India has become the 16th country outside Japan, where Pola’s premium line skincare products are offered. The other countries currently include China, Malaysia, Thailand, New Zealand, USA and Canada.
Pola is among the top 10 global cosmetic companies and the number one direct-selling cosmetic company in Japan.
Source: www.economictimes.com
