Shantanu Deshpande, CEO of Bombay Shaving Company, breaks down the consumer segmentation of India's men's shaving market to argue against mass premiumization.
“There are 30 crore shavers in the country. 30 crore, three hundred million people who shave. 15 crore of them use one rupee blades. 15 crore, half the market use one rupee blades. Seven to eight crore people go to barbershops. Five crore people use disposable blades. One crore people use premium blades out of 30 crore. Three percent.”
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More from Shantanu Deshpande
AssertionContradicted
Deshpande: TikTok's Chinese sister app Douyin accounts for 40% of retail
Deshpande: AI cannot yet help businesses frame and evolve strategic problems
“I don't think AI can help you frame problems, yet. Like a business needs to know how to frame the problem, and evolve, evolve the framing of the problem constantly.”
Deshpande: Profitable beauty brands jump from revenue multiples to 40x EBITDA
“In beauty personal care, there is a, there is the moment of transition is when you become profitable. When you start going from four times revenue, five times revenue to 40 times forward EBITDA.”
Deshpande: Indian consumer brands can now reach 500 crore scale mostly online
“Today that number is now 500, you can build a good 500 crore business, 80% online, and some amount in modern trade, and still do well. Like we are 500 crores.”
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