MUMBAI, Aug 13: Colgate-Palmolive (India) Ltd has announced plans to double its turnover by 2000, through strategic investments in business building, product diversification and market development. The company posted a turnover of Rs 904.54 crore in 1996-97.

Colgate plans to invest in infrastructure, technology and organisational effectiveness to help it enhance its market leadership and penetrate the oral care market. This will help it establish leadership positions in other fast growing personal care and household care categories.

According to company managing director N Jayaraman, "Over the past 60-years we have built market leadership and in our platinum jubilee year year, the company is committed to strengthening existing leadership positions and creating new leadership positions by responding to consumer needs faster."

Besides setting up an research and development (R&D) centre in India, Colgate-Palmolive is setting up a wholly-owned subsidiary in Nepal.

It is also putting up a manufacturing facility for di-calcium phosphate in Aurangabad. It is also consolidating its corporate head office in one location for managerial synergies, according to a press release.

The company plans to significantly strengthen its distribution reach, particularly in the rural market. According to Jayaraman, the investments will not only help the company leverage its global expertise to develop quality products at affordable prices, but also give the company significant market leadership in different product categories.

A leader in the oral care market in the country with its flagship brand of Colgate, the company is gradually losing market share to competitor Hindustan Lever which has picked up a substantial 32 per cent share in the market.

In haircare, the company's shampoo brand Halo has lost market share in the last few years. This has, however, been offset by the market share (around 4 per cent) garnered by its new shampoo brand Palmolive Optima. In the skin care segment, Colgate's presence in the 70,000 MT premium soap market is marginal with around 4.5 per cent share.

The company has recently forayed into the household care market with its international product, Axion dish washing paste.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.