I Know Essay

536 WordsNov 15, 20143 Pages
FMCG Industry Snapshot One such peanut development programme is reaching out to over 2000 farmers. The company has warned that the chocolate industry would face a huge shortfall of cocoa by 2020, something to the tune of one million metric tonnes. To add to the woes, the global consumption of cocoa is set to grow by nearly 20% to five million metric tones in the same period due to surging demand of chocolates in emerging markets, including India. India is the world's fastest-growing market for chocolates, ahead of China, according to market research firm Mintel. The domestic industry, pegged at nearly Rs 5,000 crore, has been clocking steady double-digit growth, egged on by increased spending by the mushrooming middle-class. "In the next few years, India will become one of the top ten markets for chocolates in the world," says M V Natarajan, head of Mars chocolate business in India. L'Oreal builds Indian business painstakingly; now ready for the big leap L'Oreal has 50 academies across the country where it trains 1.5 lakh hairdressers annually in the art of colouring, styling, perming, straightening - all using its own products. In an unorganised market, the company has helped upgrade salons and even turned a few of them into chains. This high level of engagement with small salon owners and individual hairdressers has propelled it to the leadership spot in FRPT Research 12 FMCG Industry Snapshot a market where other global brands (Schwarzkopf of Germany, for example) have faltered. Today, it's normal to find even the most ordinary salons offering L'Oreal as the brand of choice for hair colour. "It has taken a huge effort at ground level," says Dinesh Dayal, L'Oreal's chief operating officer, who has been with the company for 20 years. "Education is at the heart of our operation. You need a lot of patience, resilience and staying power to succeed."

More about I Know Essay

Open Document