Bausch + Lomb has forayed into India’s skincare segment, with the launch of Obagi’s blockbuster products like Thermage, Fraxel, Vaser & Clear + Brilliant and few more offerings in the pipeline. The division has been registering growth in double digits. This strategic move of expanding in the premium skincare segment, would further strengthen Bausch + Lomb’s position in the INR 285 - 290 billion beauty care market, growing at a rate 15 to 20 per cent per annum (As per FICCI Wellness Report 2013).
Bausch + Lomb intends to cater to the demands of niche Indian consumers, who constantly seek premium skincare solutions with high efficacy and visible results. The product portfolio includes a wide range of formulations designed to address skin concerns like premature skin aging, skin damage, hyperpigmentation, acne and sun damage.
“In India, within the beauty and skincare segment, the anti-aging category holds tremendous growth potential. As per our estimates, the anti-ageing market is growing by 30-50 per cent year-on-year which is much higher than the category growth. The primary drivers are increased consumer awareness, beauty consciousness and knowledge, as well as the aspiration to look young,” said Sanjay Bhutani, managing director, India & SAARC at Bausch + Lomb India.
Obagi is the number one physician recommended skincare brand in US with an annual sales of around $95 million. (Source: Professional Skin care: US market analysis & opportunities. March 2014 Kline report). In the first phase of its entry in the skincare segment, Bausch + Lomb has launched Hydrate Moisturizer, Professional-C Serums and ELASTIderm, from the ‘targeted solutions’ and ‘essential products’ portfolio for home care. It has also launched Obagi Blue peel which is into the professional care range.
“Over the next couple of years, our focus would be to consistently expand Obagi’s presence in India through introduction of new products, and achieve a market share of 5 per cent in the next 3 years, in the premium skincare segment,” added Sanjay Bhutani, managing director India & SAARC, Bausch + Lomb.
In addition to the skincare products, Bausch + Lomb also plans to launch Obagi’s highly-targeted skincare procedures, during the next phase of expansion. The products will be available through India’s leading physicians, primarily dermatologists, plastic surgeons, and other skin care and medical professionals.