Brand : Set Wet
Company : Paras Pharma
When I first saw the ad of Set Wet hair styling gel, I thought it was an international brand. Then the little" P" at the side of the screen revealed that the brand is from Paras Pharma. Paras is a company that dares to experiment and a smart marketer. Paras clearly identifies unmet needs and satisfies them effectively. Take the case of Moov and Itch guard, the successful brands from Paras which are leaders in their respective niches.
Set Wet is such a bold step . The brand which has already made people look up with its smart advertising aims to establish it self in the Rs400 crore male grooming market which is growing at a fast pace. The fact that 15-34 year old males are now earning big money ( thanks to IT and ITES), it is a market no marketer can discard.
Except for Gillette and HLL & Sara Lee ,there are no serious players in the male grooming market. Gillette while dominates the shaving products market, HLL created and owns the Deo market with AXE and Rexona.There was a brand OldSpice which was synonymous with after shave in India ( what happened to that brand will be dealt with in the coming blogs) The hair grooming market is dominated by Brylcreem from Sara Lee TTK. Set Wet is trying to compete head on with Brylcream which has a market share of 75% in the hair cream market.
Paras wants to have a brand in the male grooming segment and made a perfect start with Set Wet which has also been extended to perfumes. The perfume market is valued at about Rs1800 crore dominated by foreign brands at the upper end of the market.
Perfumes and deos were products that were not popular in India mainly because of cultural factors. We are not much bothered about the odour and bad odour was never considered as a taboo until HLL came and taught us that smelling bad is not good. The deo market saw a jump from 0 to 72 crores in just 24 months.
The void in the Indian perfume market gives tremendous opportunity for a product like Set Wet.The campaigns of Set Wet have an international look since we Indians consider any thing PHOREN as the best. Positioned as a Cool and naughty brand, Set Wet has a lot of potential.