After losing rights to make Durex condoms stemming from the exit of its partner Reckitt Benckiser Group Plc a year ago, Indian company TTK Group reveals plans to increase its exports of its own brand of prophylactics to times three. According to a report by Bloomberg, the move would be done in the hopes of reclaiming the market share it had lost due to the exit of Reckitt.
In an interview with the news agency, TTK Chairman T.T. Jagannathan said TTK Healthcare Ltd has plans to increase its shipments abroad to 1 billion units from 300 million in two years. The healthcare division of TTK started selling the Group's own Skore brand of prophylactics in November last year. Jagannathan disclosed that TTK saw its market share in India shrunk to a minimum of 7% from its 47% market share when it was still making Durex and Kohinoor brands of prophylactics, which are both Reckitt's.
From Bangalore, Jagannathan said over the phone, "We want to achieve the same market share, which Durex and Kohinoor had and which took 50 years to build. If I want to do that in three years, I need to be aggressive. We are advertising aggressively."
TTK was founded in 1928 and had entered in the business of contraceptives in 1950. It won a license to make and distribute prophylactics of the London Rubber Co, which later on was known as the London International Group Plc. TTK's partner became Reckitt's partner after the latter's parent SSL International was acquired by London Rubber in 2010.
Reckitt and TTK had a major dispute in pricing, prompting the former to sell its entire stake in Indian venture TTK-LIG Ltd to the latter in November 2012 for GBP18 million or USD29 million. The result had disrupted the supplies of Durex condoms worldwide from May 2011.
TTK will consolidate its healthcare division with TTK-LIG to streamline its condom business.
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