Hygienic Research Institute, which sells Streax and Vasmol brands, is looking at doubling its turnover to Rs 1,000 crore in the next two years as it expands the product range in India.
The company is also mulling introducing new brands for high-end hair care and skin care portfolio.
"We are targeting Rs 1,000 crore turnover in the next two years. We will achieve this (turnover ) as we expand our product range.
"We are also evaluating launching a new brand for high-end professional products and also looking at expanding our skin care portfolio and launch more products," Hygienic Research Institute (HRI) Professional Division Head Rochelle Chhabra told PTI.
The company had reported a turnover of Rs 500 crore in the previous fiscal.
In 2015, Wipro chairman Azim Premji's firm Premji Invest had invested Rs 216 crore in HRI.
HRI has various hair colour products across all formats - powder, creams and Henna - which cater to both consumers and professionals through its brand Vasmol, Streax and Streax Professional. HRI's skin care brand is Florozone.
Chhabra said the company expects share of Streax Professional range to its total turnover to grow to 30 per cent in the next two years from 20 per cent at present as it expands its product range.
Streax brand is sold through 3 lakh outlets and 25,000 salons.
HRI has several manufacturing plants in India and one in Bangladesh.
The company competes with Godrej Consumer Products and L'Oral in the hair colour space.
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