Olay has launched a new product after a long time. Curated for the Indian consumers, how do you see it contributing to the overall growth of the beauty segment?

 It’s a product that’s been in the making for a couple of years now. There are two things that we are proud of: one, our deep consumer understanding and how we translate that with the right balance of ingredients to produce a product that people will love buying, which not just meets their consumer needs but also delights them for them to repurchase and be advocates of the product. The last big collection that we launched in India was Retinol, which was just after Covid. It is growing very strongly at double-digit, with more than 25 per cent growth year-on-year for the last four years. We picked up three different ingredients: niacinamide, vitamin C and peptide. This is the next big innovation we wanted to bring to the Indian market.

How do you foresee the beauty and haircare segment growth for Procter & Gamble in India?

The aspiration is to continue the double-digit growth. We saw the beauty portfolio for us in India. Some of our franchises in the past, like Olay Retinol, have been super hit success for us in recent few years. We want to continue that momentum, you know, with the new Olay 7-in-1 that has come out. The Olay Retinol franchise is among the top three creams on Nykaa. It is very important for us to keep nurturing these franchises.

What are the key changes in consumer preferences that you are witnessing in the beauty and hair care segment?

Consumers want a simplification of their skincare routine because most products out there have only one ingredient and address a single skin issue. Quintessentially, the Indian consumer is value-conscious, and wants to make the best investments for their skincare. Furthermore, there is a lot more education now available on ingredients and science-backed formulations. If you compare the skincare category today versus 10 years ago, there’s a lot more knowledge. In haircare, consumers associate dandruff with the flakes that they see on the shoulders. There is an oily, sticky dandruff that clings to your scalp, and when you scratch your head, it comes onto your nails. That for us was an insight that when we talked to consumers, we realised and we wanted to solve for it and came up with the latest innovation in the anti-dandruff segment.

Indian consumers are moving towards new-age brands. How do you see this impacting established FMCG players like Procter & Gamble?

We have been serving Indian consumers with products that are rooted in Indian insights. As you see the landscape evolving, you know, with more customers, more brands are coming up. What is critical is to keep learning about the needs are, of the ever-evolving Indian consumer by segment, and then produce the right product formulation that addresses that particular need. I think it is great because as more and more brands are coming in what they are also talking is the power of science and ingredients, and that’s where Olay actually really owns the space. Competition is always good because it keeps you on your toes.

To grow the beauty space, FMCG giants have taken the acquisition route. Is Procter & Gamble in India also looking to acquire new-age brands?

I don’t think. The focus right now is on growing the Olay franchise in the country, and I think we will have to see how it fits. At this point, nothing is on the horizon.

What is the contribution of sales from e-commerce and quick commerce to the beauty and haircare segment?

The e-commerce space is coming up nicely for Olay as a brand. A lot of consumers today want first to experience and interact with their products online, and then order them and get them quickly. E-commerce is coming up or shaping up really well, and when I say e-commerce, I think there are multiple formats in that there is a quick commerce where the growth is, I wouldn’t say a double digit, it’s actually a multiplier growth that we are seeing. That is because the consumer there wants the convenience. It is important to be present in every platform, including offline stores. However, I believe the landscape is shifting.