In a strategic move to strengthen its position in the FMCG sector, Reliance Consumer Products Limited (RCPL) has acquired the well-known personal care brand Velvet. The acquisition aims to breathe new life into Velvet, a brand renowned for its innovative packaging of personal care products. Reliance has expressed its commitment to reviving and reintroducing Velvet’s legacy to the market.
Reliance Consumer Products Limited (RCPL) sees the acquisition of Velvet as a significant opportunity to enhance its portfolio and revive the brand’s legacy. The company released a statement emphasizing that it would carry forward Velvet’s rich history while injecting fresh energy into its product offerings. Ketan Modi, CEO of RCPL, expressed excitement about the acquisition, stating, “We are thrilled to welcome Velvet to the Reliance family. Velvet’s innovation and its important role in bringing personal care to millions of people is truly remarkable. We are excited to carry forward this legacy and take Velvet to new heights.”
Velvet, founded by Dr. C. Rajkumar in 1980, gained national recognition for its revolutionary introduction of shampoo sachets. Dr. Rajkumar’s innovative marketing ideas helped make personal care products affordable and accessible to millions of Indian households. Velvet’s entry into the market with shampoo sachets marked a transformational step, bringing convenience and affordability to the forefront of the personal care industry.
Velvet’s founders, Sujatha Rajkumar and Arjun Rajkumar, expressed their enthusiasm about the future collaboration with Reliance Consumer Products. They stated, “We are extremely excited to work with Reliance Consumer Products and start a new chapter for RCPL, which will help revive Velvet by expanding the reach of its products.”
Industry experts believe the move will further strengthen Reliance’s presence in the personal care and FMCG sectors, enabling the company to cater to a broader market and enhance its product offerings.
The acquisition of Velvet marks a pivotal moment for RCPL as it continues to solidify its position as a key player in the Indian FMCG market.
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