AFRICA’S THIRST FOR HUMAN HAIR IS A BILLION-DOLLAR BUSINESS & INDIAN COMPANIES ARE WEAVING IN THE DOUGH Indian beauty firms, specifically human hair sellers, are racking up the big bucks in Africa. Because Indian hair is popular for its strength and texture, it’s highly sought-after commodity in Africa, where it is used for wigs or extensions. In fact, demand is so high that there is a push by many Indian companies to not only export hair, but to invest in hair care businesses in the continent itself. Just last week, a company called Godrej Consumer Products India said it will buy South Africa-based hair extension company Friska hair for an undisclosed amount, reports Quartz. “This acquisition reflects our continued commitment to providing African consumers with a wide range of superior quality products at affordable prices,” Godrej’s managing director Vivek Gambhir said in a statement. “We remain very excited by the tremendous potential of the African market.” - See more at: madamenoire/502310/africas-thirst-human-hair-billion-dollar-business-indian-companies-weaving-dough/#sthash.98uR6HIg.dpuf
Posted on: Wed, 14 Jan 2015 10:35:49 +0000
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