Streax Expands its Footprint in South India with Innovative Hair Colour Solutions
13 Nov 2024 9:30 AM IST
Dheeraj Arora, Managing Director and CEO of Hygienic Research Institute Pvt Ltd (Photo by arrangement)
In an exclusive conversation with Dheeraj Arora, Managing Director and CEO of Hygienic Research Institute Pvt Ltd, the company behind the popular hair care brand Streax, we got insights into their growth plans and strategies for the South Indian market.
Streax has been a dominant player in the hair colour market in North, East, and West India, and now, the company is set to make a significant impact in South India. “South India presents a vast and growing market for shampoo hair colours, with the segment witnessing the fastest adoption rate in the region,” says Arora, adding, “We aim to replicate our success in North, East, and West India in the South Indian market.”
To tap into this lucrative market, Streax has devised a multi-pronged strategy. The company has recently launched a new gel-based hair colour format, infused with kiwi extracts and hyaluronic actives, offering excellent coverage, longevity, and shine.
“Our new gel format is a game-changer in the market,” Arora noted. “With its unique ingredients and benefits, we are confident it will resonate with consumers.”
Additionally, Streax plans to make its shampoo hair colour packs more accessible, pricing them competitively to conventional formats. “We want to make our products accessible to every consumer,” Arora emphasised. “Our pricing strategy will play a crucial role in achieving this goal.”
The company has witnessed significant growth in e-commerce sales, with revenues tripling in this channel. While general trade remains the company’s dominant revenue generator, e-commerce has become a crucial platform for niche offerings
“We work closely with e-commerce platforms to create relevant products and pricing strategies,” he says.
The company is planning to introduce more innovative products in the next three months, further expanding its offerings in the South Indian market. With recent launches including a no-ammonia hair colour range under its sub-brand, Huemagic, the company plans to expand its professional segment offerings, entering newer categories and segments.
In South India, Streax will focus on strengthening its play in the hair colour market, leveraging its popular brand, vasmol. The company will also introduce new variants, including a variant of vasmol after 60 years.
Shampoo hair colours have become increasingly popular in South India, with a penetration rate of over 15%. This format has become synonymous with hair colouring itself, offering convenience, ease of use, and affordability. Streax aims to capitalise on this trend, providing high-quality products that cater to the evolving needs of consumers.
Streax has experienced impressive growth in both urban and rural markets, thanks to its strengthened capabilities across channels and significant investments in brand building. The company’s brand health scores have improved substantially, with a 600-basis point increase over the past two years.
“Streax offers a wide range of hair colour products, including base shades, fashion shades, and funky colors. Its shampoo hair color portfolio includes four base colours: black, dark brown, natural brown, and burgundy. The company’s gel format is available in six base shades, while its creme portfolio includes both base and fashion shades,” says Arora.
With its innovative products, strategic pricing, and expanded distribution network, Streax is poised to become a leading player in the South Indian hair colour market.
Streax has been a dominant player in the hair colour market in North, East, and West India, and now, the company is set to make a significant impact in South India. “South India presents a vast and growing market for shampoo hair colours, with the segment witnessing the fastest adoption rate in the region,” says Arora, adding, “We aim to replicate our success in North, East, and West India in the South Indian market.”
To tap into this lucrative market, Streax has devised a multi-pronged strategy. The company has recently launched a new gel-based hair colour format, infused with kiwi extracts and hyaluronic actives, offering excellent coverage, longevity, and shine.
“Our new gel format is a game-changer in the market,” Arora noted. “With its unique ingredients and benefits, we are confident it will resonate with consumers.”
Additionally, Streax plans to make its shampoo hair colour packs more accessible, pricing them competitively to conventional formats. “We want to make our products accessible to every consumer,” Arora emphasised. “Our pricing strategy will play a crucial role in achieving this goal.”
The company has witnessed significant growth in e-commerce sales, with revenues tripling in this channel. While general trade remains the company’s dominant revenue generator, e-commerce has become a crucial platform for niche offerings
“We work closely with e-commerce platforms to create relevant products and pricing strategies,” he says.
The company is planning to introduce more innovative products in the next three months, further expanding its offerings in the South Indian market. With recent launches including a no-ammonia hair colour range under its sub-brand, Huemagic, the company plans to expand its professional segment offerings, entering newer categories and segments.
In South India, Streax will focus on strengthening its play in the hair colour market, leveraging its popular brand, vasmol. The company will also introduce new variants, including a variant of vasmol after 60 years.
Shampoo hair colours have become increasingly popular in South India, with a penetration rate of over 15%. This format has become synonymous with hair colouring itself, offering convenience, ease of use, and affordability. Streax aims to capitalise on this trend, providing high-quality products that cater to the evolving needs of consumers.
Streax has experienced impressive growth in both urban and rural markets, thanks to its strengthened capabilities across channels and significant investments in brand building. The company’s brand health scores have improved substantially, with a 600-basis point increase over the past two years.
“Streax offers a wide range of hair colour products, including base shades, fashion shades, and funky colors. Its shampoo hair color portfolio includes four base colours: black, dark brown, natural brown, and burgundy. The company’s gel format is available in six base shades, while its creme portfolio includes both base and fashion shades,” says Arora.
With its innovative products, strategic pricing, and expanded distribution network, Streax is poised to become a leading player in the South Indian hair colour market.
( Source : Deccan Chronicle )
Next Story
