Piramal Embraces Men Grooming Products

Bohem peps up men grooming!

• Piramal Pharma has forayed into the men’s personal grooming segment with its BOHEM product range. Derived from the term 'Bohemian', it aims to normalise and elevate men's grooming by redefining and enhancing traditional methods.
• Piramal Pharma Consumer Product range will include a hair removal spray, a beard growth oil, and an underarm roll-on as part of the men grooming products.
• With BOHEM, Piramal Pharma intends to shift the grooming culture among men towards more inclusive self-care routines, leveraging scientifically proven ingredients for tangible results.
• Piramal Pharma has been growing its power brand Lacto Calamine, focused on oily skincare, and the launch of BOHEM aligns with this strategy. The product range would be expanded to include face washes, serums, and shower gels, each designed to meet the diverse needs of modern men.
• Nitish Bajaj, CEO of Piramal Consumer Products Division, said, "Men’s grooming spends now constitute almost 11% of the entire grooming category, shaping a market ripe for innovation.  With BOHEM's debut, our goal is to address the demands of the contemporary men with the commitment to revolutionize men's grooming. Our vision extends beyond our initial offerings, with a range of exciting new products on the horizon. BOHEM represents a shift towards valuing uniqueness and empowering men to elevate their grooming practices. This initiative is a testament to our commitment to developing offerings that align with the unique needs of our consumers.”
• Bohem products will be available on e-commerce marketplace like Amazon, Flipkart, Wellify and retail stores across the country.

Handsome Evolution

• The Men's grooming market is expected to grow to INR 19,500 Cr by 2026 from INR 13,660 Cr in 2022 with fragrances and toiletries commanding a higher growth rate.
• The gap between average spend by women and men on grooming products is expected to narrow over time with the increasing basket of men's grooming products and frequency of purchase.
• Traditional players have created access to the premium and niche consumer segments of new-age brands through inorganic growth. Some traditional players already had male grooming brands in their portfolio but those were primarily targeted at the mass market. They required a swifter entry into the premium care segment, yet they lacked the agility and innovative prowess showcased by these emerging brands.
• Some proxy growth indicators include the rise of male grooming hashtags on social media, a multi-fold increase in website visitors across the category, the change from style status to essentials, and the increasing adoption of a dermatology-based preventive approach
• The male grooming or men's grooming sector has attracted investment interest from VC funds with the total funding surpassing $100 mn. Bombay Shaving Company stands out as the top-funded company, having raised a total of $48 mn to date. The sector has also witnessed several strategic investments in recent years, including Marico's acquisition of Beardo, Emami’s investment in The Man Company, Reckitt and Colgate in Bombay Shaving Company, and Wipro in Ustraa and LetsShave.
• Moving away from a one-size-fits-all, these brands developed multiple variations of a single product to cater to diverse customer needs. Their influence prompted established brands to create men-focused products.  Ex. Cavincare announced its plan to come out with a line of men's grooming products, The Body Shop increased its line of male grooming products to 12 from 1. Barbershop culture has also been picking up and the companies like UrbanClap have launched a whole list of services catering to men’s grooming at home.

Editor’s Note