Procter & Gamble on Thursday announced a 16 per cent price cut in the 'Pantene' range of shampoo to take on competition from arch rival Hindustan Lever Ltd.
"We have cut the price of 'Pantene' by 16 per cent. The price cut will not have any adverse effect on profitability as volumes will grow," P&G (India) country marketing manager Rahul Malhotra told a news conference.
The move comes close on the heels of P&G cutting prices of its detergents 'Tide' and 'Ariel' recently.
Launching a new range of low-priced 'Pantene' shampoo, Malhotra said, "With the price reduction, we hope to increase our Rs 200 crore (Rs 2 billion) hair care turnover by at least 16 per cent. The price cut will not hurt us as we expect volumes to go up."