Post his Paras-stint, Devendra Patel has set up a new company called Adjavis Venture Ltd or AVL that aspires to get double digit market share in the Rs 3000 cr fragnance category alone. Patel is running teaser campaigns on television for his Layer'r brand. "Layer'r will initially launch fragrance and eventually, launch other skin and hair care products," Patel told ET.
Skin care market in India is estimated at Rs 6,250 crore while the hair care market is pegged at Rs 10,000 crore. The Rs 1300 cr deodorant market is the strongest category in the grooming market, growing 35-40% CAGR. Realisation among males about the importance of grooming is driving growth, notes PwC's Rashmi Upadhya. Leaders in the category are Axe, Wild Stone, while Fogg by Vinni Cosmetics too is doing good, category analysts observe.
Devendra Patel along with his brothers Girsh Patel and Darshan Patel created personal care and OTC brands like Moov, Dermicool, Livon and Itchguard over the last two decades that got sold to British consumer goods giant Reckitt Benckiser in 2010.
Patel who dabbled with business ideas including real estate, energy drinks, confectioneries, home care solutions and male accessories, however, stuck to personal care. His non-competitive clause with the PE firm Actis that held controlling stake in the firm is long over.
His core team has former Paras' executives like Kalyankumar Chaudhuri, Deepankar Seth and Nikhil Naik who now serve as director, head (sales and distribution) and head (media investment) respectively, in AVL. Advertising professional Ashok Swamy who handled Paras brands at Mudra Communications, too has joined AVL as VP (marketing). Tirton Communications will handle the creatives and packaging for the company. He has already put together a team of near 300 on-field staff to handle sales and distribution.
Devendra Patel says his products will be for beautification and less for problem-solving (like Paras products). After launching permium range of perfums and deodorants, Layer'r will introduce skin care and hair care products. Currently, Patel is working on three hair care and four skin care products.