British packaged consumer goods firm Reckitt Benckiser's India born CEO Rakesh Kapoor said late last week that the company is looking to move quicker into key BRIC emerging markets of India, Brazil, Russia and China.
He added that Reckitt Benckiser was looking to renew emphasis on its fastest growing health and hygiene brands including antiseptic soap and liquid Dettol and lozenges Strepsils.
The company, which also makes Veet hair-removal cream and Lizol floor cleaners, said it is going aggressive on emerging markets and fast growing brands to offset sluggish growth in European and North American markets.
Kapoor, who took over last September from outgoing CEO Bart Becht, reported that that the company's half year earnings rose 2%. "These results and our innovations underpin our confidence in the 2012 target of 200 bps above our market growth rate of 1-2%," he said in a statement.
In January this year, Reckitt Benckiser had upgraded India to its regional headquarters for southeast Asia, covering 12 nations. It had named India CMD CM Sethi as head of the new division, which includes Singapore, Vietnam, Thailand, Myanmar, Cambodia, Laos, Malaysia, Singapore, Indonesia, Brunei, the Philippines and East Timor.
Analysts say the move has been in line with the company's acquisition of Paras Pharmaceuticals in December 2010 for Rs 3,260 crore - one of the costliest buys in the Indian FMCG space.
The buy-out is seen as a huge step to further Reckitt Benckiser's ambitions in the pharmaceutical business globally. The unlisted Indian arm of Reckitt contributes about 3% to the company's global revenue of £8.4-billion (Rs 67,000 crore). But the India business is learnt to be growing at over 20%.
Reckitt Benckiser generates almost 60% of its annual core revenues from European and North American markets - both in the grip of an economic slowdown. The company reported £9.5 billion in revenue in 2011, up 10.9% from the previous year.
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