Calcutta, Feb. 5: The shine’s back. Cherry Blossom, Reckitt Benckiser’s flagship brand, has registered an annual growth of 18 to 19 per cent in the last two years in a shoe polish market that has been stagnating since 2003-04, according to an AC Nielson survey.

“This was possible because of constant innovations by Cherry Blossom. It has introduced products like coloured wax polish, shoe shampoo and quick wax,” said brand manager (India) Gautam Suri.

The domestic shoe polish market is worth Rs 110 crore, of which Rs 80 crore comprises the ‘kirana’ shops. Cherry Blossom has a market share of 75 per cent in the wax polish segment, 62 per cent of the liquid polish souk and 93 per cent in the canteen stores depot (CSD) segment.

Cherry Blossom, which started its journey in India from Calcutta in 1943, is also celebrating its centennial year in 2006.

Shoe polish came last among personal care products, Suri said. The brand aims to bring back the convenience and fun in polishing shoes and offer value for money in a category dominated by product promotions, Suri added.

The company has launched leather oil-based products in India like anti-ageing waxes and quick wax in a glass bottle. It will also introduce neutral polish and sponge shiner soon.

Cherry Blossom imports wax from Brazil and Columbia and is planning to buy it from South Africa as well. In India, the company gets the wax from Himachal Pradesh.

To celebrate its centennial year of operations, the company plans to introduce a host of international waxes in the country.

The current range of waxes is priced between Rs 13 and Rs 40.

Cherry Blossom has over 80 per cent market share in the eastern region, over 80 per cent in the north followed by 70 per cent in the west and around 55 per cent in the south, Suri said.

Eighty-five per cent of the company’s customers come from urban areas while 15 per cent from villages.

“With the advent of multinational shoe brands in the country and people willing to spend more on shoes, the awareness about footwear care would also increase, expanding the market for shoe polishes of different kinds,” said Suri.

Reckitt has a strong distribution network, which its major brands leverage for market penetration. There are about 1.1 million shoe outlets, of which Cherry Blossom is present in nearly a million.