The plan is to take advantage of the local company’s premium position in the South African market, particularly in the Western Cape, Eastern Cape and Gauteng, where it is very strong.
Extending hair care business
"We are delighted to add the Frika brand to our hair extensions portfolio in Africa,” says Vivek Gambhir, Managing Director of Godrej. “With its quality range of premium hair extensions, the Frika range of hair extensions provides a strong complementary addition to our Darling masstige portfolio.”
Gambhir continues, explaining that the acquisition reflects the company’s continuing commitment to ramping up its presence in Africa and reaching out to African consumers to provide them with a wide range of quality products at affordable prices.
“We remain very excited by the tremendous potential of the African market and look forward to further building our business," he adds.
Global strategy
Godrej’s global strategy is at the heart of everything the company does and it says that this move stays in line with the plan of targeting strong regional assets in the emerging world.
As mentioned above, Frika Hair holds a strong market position in South Africa, and it is also the market leader in key accounts in organised retail.
Its range includes products such as braids, synthetic weaves, human hair weaves and wigs and hair-pieces, which has helped build significant presence and boosted its wholesale distribution capability in South Africa.
The company had net sales of ZAR 73 million (€5.4m) last year and Godrej says that its range will be a strong complementary addition to its masstige portfolio under the Darling brand.
Godrej’s own African business currently has annualized revenues of $200 million (€171m).