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Durex makes India condom push for ladies, rural shoppers

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© Reuters. FILE PHOTO: A man selects packets of condoms that are displayed for sale at a chemist shop in Ahmedabad, India, September 2, 2024. REUTERS/Amit Dave/File Photo

By Richa Naidu and Dhwani Pandya

LONDON/MUMBAI (Reuters) – For years, the world’s largest condom maker Reckitt Benckiser (LON:) designed merchandise and advertising and marketing to lure Indian males to its Durex model. Now, it’s pushing a progress technique by betting on ladies and rural shoppers.

India final 12 months surpassed China to change into the world’s most populous nation, however nonetheless fares poorly on the usage of contraceptives. India’s authorities estimates solely round 10% of males use condoms and for ladies, sterilization stays the favored type of contraception.

Social stigma surrounding intercourse – which some say stems from Victorian social norms established throughout British colonization – has for many years marginalized feminine pleasure within the Indian society.

However attitudes are altering and Reckitt is shifting advertising and marketing gears to reap the benefits of an upswing in condom use amongst Indian ladies – now a key audience for Durex.

Round 9.5% of married Indian ladies cited utilizing condoms throughout intercourse by 2021, virtually double the use 5 years earlier, in accordance with newest out there authorities statistics. Amongst single ladies, such use greater than doubled to 27%.

Reckitt is reformulating merchandise resembling lubricants geared toward attracting ladies shoppers, and has new advertising and marketing campaigns, Pankaj Duhan, Reckitt’s senior vp of intimate wellness, informed Reuters in an interview.

The Durex lubricants in India will use improved formulations to enchantment to ladies and have been created after performing medical research to deal with considerations females face — 30% of Indian ladies expertise some discomfort when having intercourse with their companion.

“We need to change this … That’s the reason we’re relaunching our lubes portfolio,” stated Duhan. “The ladies are likely to change into slightly bit extra underserved shopper teams.”

The India condoms market is at the moment dominated by Mankind Pharma, which makes Manforce, adopted by Reckitt and TTK Healthcare.

CHALLENGES

The British shopper items agency faces some stiff challenges in its quest to carve out a profitable slice of the feminine condom market and rural shoppers, primarily with distribution and pricing – two areas business watchers consider are key to success – but in addition in coaxing a still-largely conservative rural inhabitants to purchase its merchandise.

Furthermore, opponents are making a pitch to ladies too, with Durex’s essential rival and market chief Manforce tweaking its advertising and marketing — a latest advert stars a Bollywood actress speaking about advantages of condoms and asking ladies to “go purchase your personal.”

“One problem Reckitt could face is consistency of messaging,” stated Devangshu Dutta, head of retail consultancy Third Eyesight, including the corporate wants to determine whether it is focusing on condoms for well being, household planning, or pleasure as there might be totally different messaging for every sort of purchaser.

The expansion alternative is compelling – India’s condom market measurement is merely value $210 million, in comparison with China’s $4.1 billion, however is forecast to develop at 7.4% compound annual price between 2024 and 2030, in accordance with Indian consulting agency 6Wresearch. The worldwide market is value $11.3 billion.

Rising the market will take some doing although, not least due to India’s huge measurement and hundreds of thousands of mom-and-pop shops require a widespread distributor community.

At the moment, solely about 10-15% of Durex’s gross sales in India come from rural areas, which is way extra value delicate than city cities.

“Distribution is the large problem just because despite the fact that most shopper items firms have made their method to all pincodes within the nation, the query is sustaining availability at retail factors,” stated Dutta of Third Eyesight.

CHIPPING AWAY AT TABOOS

Intercourse schooling within the conservative nation can also be lagging, and there’s a huge gulf between consciousness and precise use of contraceptives.

Matt Godfrey, govt vp for Asia Pacific at Monks advert company, a part of S4Capital, stated advertising and marketing tweaks by the likes of Durex are a welcome change however condom use and intercourse schooling want to enhance in India.

“There are vital societal and cultural points that should be quickly shifted to reverse the established order,” he stated.

Within the japanese state of Odisha, for instance, a small medical retailer of Sudam Padhan doesn’t prominently show condoms as “individuals frown upon them.”

In India, it is males who largely purchase condoms, however some like Pooja, a marketer in Mumbai, try to drive change. She made an “awkward” determination to purchase condoms herself for the primary time this 12 months, saying “after I’m asking for a condom over-the-counter I’m mainly placing my well being first.”

Nonetheless, in a telling signal of the considerably taboo nature of the subject, the 31-year-old declined to share her final identify as she is single and feared societal admonition.

“An open dialog encouraging secure and accountable intercourse in India has been steadily progressing however must be frequently supported” by manufacturers together with Durex, S4Capital’s Godfrey stated.

Like a lot of its rivals, Reckitt has over time largely focussed on Indian males, with many adverts that includes ladies carrying skimpy garments.

Rival Manforce Condoms options former pornstar Sunny Leone in movies, some labelled “EXCLUSIVE UNCENSORED”. Duhan stated lots of the condom adverts “objectified ladies.”

However that is altering. Durex earlier this 12 months launched a risqué “Explorers Needed” lubricants marketing campaign in India which featured sensual pictures of nude male physique elements.

PRICING PAINS

Pricing is one other huge problem, particularly in shops in smaller cities and villages that are reluctant to inventory condoms and lubes. Duhan stated merchandise must be “extraordinarily low-cost” to promote in some rural areas, the place many use free government-provided condoms.

Padhan, from the medical retailer in Odisha, would not inventory Durex “as a result of they’re pricey and there is no demand for them in rural areas,” and says most gross sales are of Ustad “Deluxe (NYSE:) Condoms” made by a state-run agency.

Ustaad prices simply 10 rupees (11 U.S. cents) for a pack of six. A pack of 10 Durex condoms begins retailing at round 250 rupees, with some priced above $6, and an identical pack of Manforce begins at $1.

However the smaller three-condom Durex pack begins retailing round 99 rupees, and Reckitt believes they may promote higher in rural India.

“We’re beginning on the high (and) planning to get right down to the agricultural areas,” Duhan stated. “It is a huge enterprise”.

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Trump Media plummets to new low on the primary buying and selling day the previous president can promote his shares

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Shares of Trump Media & Know-how Group slumped to their lowest stage ever on the opening bell Friday, the primary buying and selling day that its largest shareholder, former President Donald Trump, behind the Reality Social platform.

Shares of Trump Media, generally referred to as TMTG, tumbled nearly 7% to $13.73, placing the worth of the corporate at lower than $3 billion. Trump owns greater than half of it.

Trump and different insiders within the firm have been unable to money in on the extremely unstable inventory due customary lock-up agreements that stop massive stakeholders from promoting stakes for a set interval after an organization turns into publicly traded. TMTG started buying and selling publicly in March.

Trump owns almost 115 million shares of the corporate, in line with filings with the Securities and Trade Fee. Primarily based on TMTG’s share worth early Friday, Trump’s holdings are value, at the very least on paper, about $1.6 billion. It is normally not in the perfect curiosity of huge stakeholders to even try to promote massive tranches of their inventory as a result of it may danger a broader sell-off.

Since going public, shares in Trump Media have gyrated wildly, usually relying on information associated to Trump, the Republican presidential nominee.

One week in the past, the corporate’s shares jumped almost 12% after Trump mentioned he would not promote shares when the lock-up interval lifted. The inventory dipped greater than 10% following the earlier this month between Trump and the Democrats’ nominee, Vice President Kamala Harris. In mid-July, shares climbed greater than 31% within the first day of buying and selling following the primary assassination try on Trump.

Trump Media & Know-how Group Corp. is now than a number of months in the past. When the corporate made its on the Nasdaq in March, shares hit a excessive of $79.38.

got here into existence after he was banned from Twitter and Fb following the Jan. 6, 2021, Capitol riot. Primarily based in Sarasota, Florida, Trump Media has been shedding cash and struggling to boost income. It whereas producing solely $4.1 million in income, in line with regulatory filings.

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FedEx, Constellation lead morning market cap inventory movers on Friday

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As Friday’s buying and selling session unfolds, vital actions have been noticed amongst mega-cap and large-cap shares, with some corporations experiencing sharp declines and others securing strong beneficial properties. Market members are reacting to a mixture of earnings dangers, strategic partnerships, and government management adjustments. Here is a have a look at a few of the most notable inventory movers from the upper finish of the market capitalization spectrum.

Mega-Cap Movers (Market Cap: $200 billion USD or larger)

Giant-Cap Inventory Movers (Market Cap: $10-$200 billion USD)

  • FedEx Corp (NYSE:) falls following outcomes, decrease steerage; -14.87%
  • Constellation Vitality Group-Exch (CEG) and Microsoft (NASDAQ:) ink 20-year clear power deal, to re-open Three Mile Island; +13.57%
  • Vistra Vitality Corp (NYSE:); +7.62%
  • Elliott Hill named subsequent CEO of Nike (NYSE:); +5.61%
  • Lennar (NYSE:) beats estimates as new dwelling orders rise 5%; -4.93%
  • Outdated Dominion Freight Line Inc (NASDAQ:); -4.47%
  • Chewy Inc (NYSE:) Broadcasts Pricing of Providing of Class A Frequent Inventory by Promoting Stockholder and Concurrent Repurchase; -5.13%

Mid-Cap Inventory Movers (Market Cap: $2-$10 billion USD)

  • Apellis Pharma (APLS) Receives Unfavourable CHMP Opinion for Pegcetacoplan for Geographic Atrophy (GA) within the EU Following Re-Examination; -8.79%
  • Trump Media (DJT) falls as lock-up expires; -6.3%
  • PBF Vitality Inc (NYSE:) falls on downgraded at Piper Sandler; -5.84%
  • Mobileye World (NASDAQ:); -6.87%
  • Frontline (NYSE:) Ltd Unusual Shares (FRO) falls on downgrade at SEB; -6.51%

Small-Cap Inventory Movers (Market Cap: $300 million -$2 billion USD)

  • Corbus Prescription drugs Holding (NASDAQ:) falls on Nov Nordisk weight problems knowledge; -55.81%
  • Sable Offshore (SOC) secures $150 million in non-public placement; -16.33%
  • MillerKnoll (NASDAQ:) (MLKN) shares drop 6% on weak Q1 outcomes, delicate steerage; -15.44%
  • Nano Nuclear Vitality (NNE) beneficial properties as nuclear shares rise as Three Mile Island to re-open; +22.27%
  • Oklo (OKLO) beneficial properties as nuclear shares rise as Three Mile Island to re-open; +18.0%
  • Arisz Acquisition (FUFU); -9.44%
  • NuScale Energy (SMR) beneficial properties as nuclear shares rise as Three Mile Island to re-open; +14.25%
  • GrafTech Worldwide (NYSE:) Ltd (GTI); +13.05%
  • Olaplex Holdings (NASDAQ:); -8.91%
  • Wolfspeed (NYSE:); -8.17%

For real-time, market-moving information, be part of Investing Professional.

This text was generated with the help of AI and reviewed by an editor. For extra info see our T&C.

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Inventory market at this time: S&P 500, Dow again away from information as Fed cheer fizzles

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US shares dipped from document highs on Friday as rate-cut euphoria light, with FedEx () earnings offering a actuality examine.

The S&P 500 () fell roughly 0.3%, after the benchmark index ended at an all-time excessive. The Dow Jones Industrial Common () traded regular on the heels of notching its personal document shut. Main the best way decrease, contracts on the tech-heavy Nasdaq Composite () dropped 0.3%.

Shares as traders embraced Chair Jerome Powell’s message that the Federal Reserve made a giant interest-rate minimize to , not to put it aside — an concept bolstered by .

That roaring rally is now sputtering amid reminders that dangers to progress might nonetheless lie forward. Wall Road continues to be questioning whether or not the in retaining the financial system on observe for a “smooth touchdown”. Merchants are pricing in deeper cuts this yr than policymakers’ “dot plot” initiatives, per Fed Funds futures.

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Additionally, these Fed-fueled excessive spirits are , in keeping with a high Financial institution of America strategist. Michael Hartnett mentioned shares are pricing in ranges of coverage easing and earnings progress proper now that push traders to go chasing for good points.

FedEx in revenue in Thursday after-hours, lacking Wall Road estimates. The supply firm— a bellwether for the financial system — noticed Its shares stoop as a lot as 14% in early buying and selling.

Elsewhere, Nike’s () inventory jumped after the sportswear maker as its gross sales come beneath strain.

Dwell2 updates

  • Nike shares bounce 7% on CEO substitute

    Nike () shares jumped on Friday after the sneaker and sport attire large introduced CEO John Donahoe plans to retire and can be changed by Elliott Hill, the corporate’s former president for client and market, efficient October 14 .

    Wall Road analysts cheered the return of Hill, who left Nike in 2020. Shares of Nike rose greater than 7% in early buying and selling.

    As Lusso’s Information’s Brooke DiPalma experiences, the management change comes as Nike’s board — which incorporates founder Phil Knight, former long-time CEO Mark Parker and Apple () CEO Tim Prepare dinner — sees it match to refocus on improved product and re-establishing relationships forged apart by Donahoe, resembling that with Foot Locker ().

    Learn

  • Shares retreat from document highs as Fed rate-cut rally fades

    Shares fell barely in early buying and selling Friday, backing away from document highs on the S&P 500 () and the Dow Jones Industrial Common ().

    The tech-heavy Nasdaq Composite () additionally dipped after a monster rally within the prior session on the heels of a jumbo charge minimize from the Federal Reserve.

    The market euphoria fizzled on Friday after supply large FedEx (), a bellwether for the US financial system – reported dissapointing quarterly outcomes on Thursday night.

    FedEx inventory tumbled in early buying and selling.

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