Stainless steel razor is the hottest new trend in shaving today.
In fact, according to the industry trade group, the average price of a stainless steel razor in the last two months was Rs 4,000, with the average selling price being Rs 3,200.
In fact, the razor industry has gone from a nascent industry of only around 4,500 employees in 2002 to an estimated $US9 billion a year, according the India-based Indian Marketing Corporation of Stainless Steel Razors (IMRSA).
The company has over 60,000 employees in India and exports its razor brands to countries like Australia, the United Kingdom, Singapore, the Netherlands, and Germany.
IMRSA is also the market leader in the US, according its global sales figures.IMRSA’s head of marketing and business development in India, Amit Kumar, said the market is ripe for a new wave of innovation and competition.
He said the stainless steel industry is set to grow from $US2 billion in 2002-2003 to $US4 billion in 2018.
“The market is really ripe for the new innovation that will help us get out ahead,” Kumar told The Hindu.
He added that there are already about 1,500 companies in the industry, but he did not specify which ones are in the top five.
The industry is in its third decade and employs about 8,000 people across the country.
However, Kumar said the industry is not going to disappear for another few years.
“There will be many more companies entering the market.
They will create new products and they will come with a new philosophy and a new innovation.”
We are seeing an exponential growth of the stainless industry in India.
The industry is still going to grow and we will see the same as in any other industry,” Kumar said.
I’m not sure how many razor brands there are but we can count the number of manufacturers on one hand.
We will go to the next level,” Kumar added.”
I don’t think we will go back to the days when manufacturers could produce at their home locations.
We will go to the next level,” Kumar added.
I don�t think the market will go away for another three or four years, but the new products that are coming will come from different countries, Kumar added, adding that manufacturers would be competing on price, quality and innovation.
I can tell you that it is going to be an exciting time for the industry.
“We are going to see the next wave of manufacturers enter the market,” Kumar concluded.