Eye care specialist Bausch + Lomb is expecting 20 percent sales growth in 2016 with the launch of new range of coloured cosmetic lenses and expansion of its distribution network in tier II and III towns.
Two-third of company revenue in India comes from contact lens and solutions segment and the remainder comes from surgical equipment business. It sold the pharmaceutical business to Ipca Laboratories last year. Recently the company also launched premium skin care products in India which are a part of dermatology portfolio of its owner Valeant Pharmaceuticals.
"We are growing 10 percent this year and we hope to grow 20 percent next year. We are expanding our sales and distribution network to increase the sales of low cost eye lens in tier II towns. With more than 60 percent of the market share, we are currently the leader in the contact lenses and lens care category, in the country," said Sanjay Bhutani, managing director of Bausch + Lomb India.
While the low cost lenses are aimed for tier II markets the company is trying to attract younger customers with coloured cosmetic lenses and has roped in actor Lisa Haydon as its brand ambassador.
"The average age of contact lens user is consistently going down. These days, people as young as 13 years of age are adopting lenses, to provide them an instant makeover and add to their convenience. By bringing in top of line coloured cosmetic lens (Lacelle brand), we are offering a wide range of choices to consumers, " said Indranil Chakravarty, commercial director, vision care business, Bausch + Lomb, India.