Godrej Consumer's advertising investment surged by 47% to Rs 1,011 crore in FY24

Godrej Consumer's advertising investment surged by 47% to Rs 1,011 crore in FY24 in the domestic market, the company's annual report mentioned.

The FMCG major reduced its stock keeping unit (SKUs) by around 30% via a rationalization process. According to the company, Godrej Consumer Products Ltd (GCPL) is spending more on brands, automation, and SKU rationalization for double-digit growth.

The company's "advertising and publicity" spending was Rs 1,011 crore in FY2024--47% higher than Rs 687.34 crore in FY 2023.

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The owner of brands like Cinthol, Godrej No 1, Good Knight, said,"In India, we are now spending over Rs 1,000 crore in advertising from Rs 350-400 crore a few years ago. We realized that our categories were being run differently across the world, advertising agencies were different, and production was being done differently".

GCPL's consolidated spending on advertisement stood at Rs 1,336.12 crore including in foreign markets like the US, Africa, and Indonesia.

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Raymond Consumer Care, which it acquired in April last year from the SInghania family has reduced 550 SKUs to just 100.

According to the company, "While new brand development remains pivotal for value creation, we plan to phase out smaller brands where it aligns with our broader value realization strategy".