PZ Cussons, a multinational consumer goods company, has announced plans to invest KES 35 million in Kenya over the next three months.
The investment is part of a strategic initiative to expand the reach of its flagship brand, Imperial Leather.
Imperial Leather, a renowned name in personal care, has been a staple in many households worldwide.
The company’s managing director, Sekar Ramamoorthy, stated that this is primarily aimed at growing the national footprint of Imperial Leather by tapping into the increased buying ability in rural areas.
“Devolution has led to a rise in incomes and diversification of consumer tastes, presenting us with an opportunity to deepen the availability of our flagship products,” said Ramamoorthy.
However, the high cost of living has forced consumers to make tough buying choices, particularly on personal care essentials.
A recent Kantar report revealed that consumers are paying up to 20% more for fast-moving consumer goods (FMCG), leading to a reduction in the frequency of purchase by up to 10% for personal care items.
Despite these challenges, Ramamoorthy expressed confidence in local growth opportunities and sees potential for long-term market growth.
The firm plans to adopt a challenger’s mindset, expand distribution, and focus on understanding consumers better using data and artificial intelligence to inform business and marketing programs.
PZ Cussons is also targeting Millennials, Gen Z, and Gen Alpha consumers who make up the largest consumer base.
Global data shows that 40% of purchases are made by Gen Zs who demand clear brand values and sustainability.
Ramamoorthy projected that by the end of 2024, Imperial Leather will have doubled in value from 2020 when the Covid pandemic hit.