PZ Cussons East Africa has targeted the luxury skincare market with a Ksh100 million transformation program designed to turn its Venus brand into a strategic growth driver. PZ Cussons EA Managing Director, Mr Sekar Ramamoorthy, says the push for the premium segmentation has been informed by consumers moving towards higher-valued items in the category.
“The gap between mass and premium female consumers in Kenya has been narrowing for a while now, and this is an excellent time for us to gain traction for the Venus skincare range with elevated formulas and modern production technology,” Mr Ramamoorthy says.
With analysts estimating the national total market to reach Ksh64 billion in 2024 and grow at an annual rate of 6.5% over the next five years, Mr Ramamoorthy explained that the firm had opted to blend into the new consumer wave where the mass market is quickly blending into the hitherto luxury segment. As a result, PZ Cussons says it has mobilised its more than 100 years of research expertise in product manufacturing and sourced the ingredients from Europe, Asia and Africa to build on its local manufacturing expertise that has seen the firm rise to number three in national market share.
This new move to premium shoppers is expected to be a key growth driver for the firm, as it seeks to capture consumers seeking elevated value. Ramamoorthy added that “women in the age range from 25 to 45 years old are actively seeking out quality, natural ingredients and efficacy in a more calculated approach to their purchases, opting for long-lasting, multi-functional products.”
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The Kenyan skincare market, he explained, has exhibited ongoing robust performance. Within it, the high-premium market segment is showing strong growth where consumer receptivity to these products reveals that in addition to the features, they also focus on their worldview, concept, ingredients, and packaging.
“We are leveraging on our heritage of well-researched insights on authentic, safe, and natural ingredients including Hyaluronic acid, Niacinamide, Retinol, Bakuchiol, and ceramides, having been in the market for over six decades,” noted Mr Ramamoorthy.
He pointed out that the firm had learned that the more informed people are about a product category, the higher their expectations. Overall, the PZ Cussons MD reiterated that the path to premium Venus had taken a holistic approach that encompasses packaging and product innovation with ingredients and formulations. By investing in these areas, the firm has created a high-quality Advanced Venus Skincare range.
“We want to inspire new customer habits as people seek innovation and desirability beyond utility with the new Venus skincare range,” stated Mr Ramamoorthy.
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