“We aim to reach a turnover of Rs 5 billion in near future”
Vicco Laboratories recently completed 60 successful years. Tell us about some memorable moments?
One memorable moment was when we received an International Trade Trophy, Phoenicia from the Government of Malta in 1980. The efforts made by us to establish products in the developed and developing countries have not only enabled us to establish our name in the international market but also helped us to gain recognition in the domestic front. Vicco Paste also received Proggy Award in 2005 from People for the Ethical Treatment of Animals (PETA).
Why has the company confined itself to topical products? Are there plans to introduce more advanced products/ categories?
As the domestic market demand for our products is huge and growing, we are not able to cater to the demand fully hence we our plans to introduce new products is on hold presently. However, we definitely do plan to introduce few more products. The discussion in this regard on whether to tap the market share of topical skin care category or to introduce few more products for oral use etc. is still under discussion.
What is your current market size?
The current updated figures are not available with us. However, we have more than 40 per cent share in the skincare creams category.
Are there any new products in the pipeline?
We are planning to launch Vicco Turmeric in lotion form. It is an ayurvedic medicine which will serve the purpose of a moisturising lotion.
What are your future plans?
Our turnover in domestic and international market is showing a rising trend, all these years. We aim to reach a turnover of Rs 5 billion in the near future. We have a chain of stockists and distributors and our international trade business are well-organised. We are exploring all possibilities to expand the business.