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Ace The Case - Round 2

The document discusses the growth of the male grooming industry in India and globally. It provides statistics on the market size and projections for growth. It also discusses trends like the influence of South Korean grooming products and techniques on the Indian market. The document presents a case for teams to propose and analyze a new category of men's grooming products for the Indian market.

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Sanchita Gupta
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64 views9 pages

Ace The Case - Round 2

The document discusses the growth of the male grooming industry in India and globally. It provides statistics on the market size and projections for growth. It also discusses trends like the influence of South Korean grooming products and techniques on the Indian market. The document presents a case for teams to propose and analyze a new category of men's grooming products for the Indian market.

Uploaded by

Sanchita Gupta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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IIM LUCKNOW'S

CONSULTING & STRATEGY CLUB

in association with presents

The legacy business case challenge

CASE DOCUMENT

media partners
INSTRUCTIONS

1. This document consists of one case study. Teams are


expected to clearly state any assumptions made and mention
the source of information when using data from external
sources.
2. Shortlisted teams must submit their solution for the second
round (2-slider) by 11:59 PM on 08 February 2023 by mailing
it to the following email ID: [email protected].
3. Finalist teams must submit their solution for the final round (5-
slider ex. Cover page & Appendix) by 23:59 PM on 15
February 2023 by mailing it to the following email ID:
[email protected].
4. Kindly note that the solution should be in the Portable
Document Format (PDF). The solution document and subject
of the mail should be named as “AceTheCase_TeamCode.”
(For example: AceTheCase_BayWatchers@07)
5. The body of the mail should contain the name and contact
details of the participants.
6. The shortlisted teams would be updated by e-mails, so keep
checking your e-mail at regular intervals.

The decision of the organizers shall be binding on all the


participants.

CONSULTING & STRATEGY CLUB, IIM LUCKNOW


THE FUTURE OF MALE GROOMING
in association with

The market for men's grooming and personal care products is


expanding globally. In the past, shaving and fragrances marked
the extent of the masculine grooming regimen. Today, men have
many options to choose from, be it beard, skin, body or hair care.

Increasing awareness in grooming is boosting the sales of this


industry globally and in India, with the global male grooming
market worth ~$100 billion. In comparison, the Indian market is
projected to increase to $1.5 - $3 billion by 2025

It’s hard to believe that this sector would be


able to reach such numbers in less than 10
years of Shah Rukh Khan pitching the
Indian male to use their own creams with
‘Fair and Handsome’. The product has been
such a success that it enjoys ~65% of the
market share even now.

In more recent events, the South Korean male grooming industry


has significantly impacted the market in India. South Korea is known
for its innovative and sophisticated grooming products and
services, and with the growing popularity of BTS and Korean shows,
Indian men are intrigued. South Korean skincare products are
renowned for their effectiveness and quality, and many Indian men
are turning to these products to address their skin concerns.

The South Korean male grooming industry has also impacted the
professional grooming services market in India. The popularity of
Korean grooming techniques and services has led to an increase in
demand for male grooming experts.

CONSULTING & STRATEGY CLUB, IIM LUCKNOW


The change in perception towards grooming can be seen most
evidently in icons of male beauty in India over the years:

1970s 1980s 2000s 2010s

NOW &
FUTURE?

Seeing these trends, it is no surprise that Indian men are buying 9


beauty products monthly on average. It is likely to maintain their
youthful look to remain competitive in the workforce, or maybe
because more male icons like prominent actors, sportspersons, or
influencers are marketing these products.

DISCRETIONARY SPENDING ON COSMETICS


75%

50%

25%

0%
Male Female

CONSULTING & STRATEGY CLUB, IIM LUCKNOW


The rise of e-commerce has also played a significant role in the
growth of the male grooming industry in India. Online shopping
platforms such as Amazon and Flipkart have made it easier for
men to access a wide range of grooming products, including
skincare, haircare, shaving, and fragrance products. According to a
recent study, the online retail market for male grooming products
in India is expected to reach USD 1.2 billion by 2023.

Given the staggering growth potential in this sector driven by


increased awareness, many brands have started creating a
curated selection of male cosmetics and grouping them into
different sections:

Some other interesting trends:

9/ 2/ 12+
10 3
Customer Consumers Start-ups There is a new
Journeys are not loyal already exist in found interest in
start to 1 brand male grooming organic products
online

CONSULTING & STRATEGY CLUB, IIM LUCKNOW


THE ASK
CATEGORY CREATION
Create a new category for men’s grooming products that you feel will
be the next big growth opportunity. For example, think of hair fibres.

Present why you think this category is going to succeed with your
conclusions backed by primary and secondary research.

The solution should include the following:


Marketing Mix: Products, Price Points, Promotion and Channels
Desirability: Market size and expected penetration
Viability: Financial soundness incl margins, and profitability
Feasibility: Legal approvals, raw material and infrastructure
presence, potential marketing campaigns

You can consider existing categories outside India and how they would
be modified to suit the Indian market. You can also think of a new
category within the realm of practicality.

Some useful links:


D2C beauty care report: shorturl.at/anwyG
India Embracing Grooming revolution: shorturl.at/isvSV
Vogue India Male beauty industry on the risk: shorturl.at/klK19
Men's grooming outlook: shorturl.at/gkOW4
Winning in the connected beauty industry: shorturl.at/iyM27
Relevance of grooming products in Indian men: shorturl.at/csUY6

CONSULTING & STRATEGY CLUB, IIM LUCKNOW


EVALUATION & REWARDS

Congratulations on being shortlisted for the second round!

Stage 2: Case Submission

Stage Description - Top 50 teams that clear the first round will
be presented with a small case. A 2-slide solution will be
expected. This round is eliminative.

Rules - Teams will be judged on the solution submitted


Result Criteria - Content (10), Feasibility (10), Scalability (10),
Design (10)

Date - 05 February 2023 12:00 - 08 Feb 2023 23:59

Bonus Stage:

Stage Description - All 50 shortlisted teams will get the


opportunity to interact with the BCG panel in a special discussion
on how to move onwards and upwards as a consultant.

Rules - Teams will be judged on quality and quantity of


engagement with the BCG panel
Result Criteria - 10 Bonus points to be awarded to 5 teams

Date - To be communicated to shortlisted participants

CONSULTING & STRATEGY CLUB, IIM LUCKNOW


Stage 3: Case Submission & Presentation

Stage Description - The top 10 teams that clear the second


round will be presented with a case. A 5-slide solution
(excluding the cover page and appendix) for the stated problem
statement will be expected. All the teams will make a
presentation in front of a panel of judges online between 16th -
17th of February.

Rules - Teams will be judged on the solution submitted


Result Criteria - Content (10), Feasibility (10), Scalability (10),
Presentation (15), X-Factor (5)

Presentation Date - 16-17 Feb 2023

YOUR CHANCE TO
WIN REWARDS WORTH

1st 2nd 3rd

Rs. 35,000 Rs. 25,000 Rs. 15,000

Top 50 teams to be provided with merit certificates & CV points

CONSULTING & STRATEGY CLUB, IIM LUCKNOW


CONTACT US

[email protected]

NITYAM BAGGA - +91 98716 94835


KRIPI BADONIA - +91 88000 97307

IIM LUCKNOW,
PRABANDH NAGAR,
LUCKNOW, UP - 226013

@CONSULTCLUB_IIML

@THECONSULTINGSTRATEGYCLUBI7074

CONSULTING & STRATEGY CLUB, IIM LUCKNOW

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