Mumbai, July 22: FMCG major Godrej Consumer’s advertising investment shot up by 47 per cent to Rs 1,011 crore in FY24 in the domestic market, even as it has reduced SKUs by around 30 per cent through a rationalisation process.Godrej Consumer Products Ltd (GCPL), which aims for double-digit volume growth, is spending more on brands, automation and SKU rationalisation with a “keen focus on simplification”, according to the latest annual report of the company.
“In line with our strategy of category development, we have made significant investments in advertising. We were the fifth largest advertiser in India in 2023, from being number 17 in 2021. We are adding to this with investments in distribution,” GCPL Managing Director and CEO Sudhir Sitapati said.
GCPL’s spending on ‘Advertising and Publicity’ was Rs 1,011 crore for the financial year ended March 2024. This was 47 per cent higher than Rs 687.34 crore a year before.
“In India, we are now spending over Rs 1,000 crore in advertising, from Rs 350-400 crore a few years ago, a significant increase. We realised that our categories were being run differently across the world, advertising agencies were different, production was being done differently,” he said.
The company owns popular brands like Cinthol, Godrej No 1, HITS and Good Knight.