Revlon wants to be Indian beauty shopper's best friend

Beauty and cosmetics marque Revlon, which operates successful India done its section spouse Modi-Mundipharma Beauty Products, is looking to treble its concern to ₹400 crore successful the existent fiscal and has plans to ramp up its offline web by adding much stores, a apical institution authoritative said.

The institution has plans to summation the fig of outlets to 600 from the existing 300 and besides quadruple its beingness from 1,000 departmental stores to 4,000 stores, said Revlon enforcement manager and caput of Revlon Indian subcontinent Meghna Modi.

When asked astir enlargement Meghna Modi told PTI: "We person astir 300 outlets and readying to spell astir 600 outlets and summation beingness successful 1,000 section stores to 4,000 section stores."

Regarding the timeline for this, Modi said, "It volition beryllium successful the adjacent two-three years. We volition besides treble our concern adjacent year."

Presently, Revlon's 25% of income successful India is coming from online and the remainder income is from offline channels similar its stores and departmental stores operated by starring retailers.

The institution is besides beefing up its beingness connected societal media platforms specified arsenic Instagram, said Modi.

Revlon competes successful the luxury conception with brands arsenic planetary brands similar MAC Cosmetics, and Estee Lauder. It besides competes with brands specified arsenic Lakme, L'Oreal's Maybelline and dozens of new-age online oregon D2C rivals specified arsenic Nykaa, Sugar, MyGlamm, etc.

According to a associated study by Redseer Strategy Consultant and Peak XV (formerly Sequoia Capital India & Southeast Asia), the Indian quality and idiosyncratic attraction marketplace is estimated to turn to $30 cardinal by 2027, accounting for 5% of the planetary market.

Amid accrued contention successful the quality and cosmetic segment, Revlon is betting connected its product's quality.

"Whenever we bash a study, consumers emotion our products," she said, adding, "Our committedness is agelong mode and agelong care."

Revlon is besides targeting aspirational consumers from tier II cities with its affordable introduction terms points starting from ₹399 onwards, competing with Loreal's Maybelline and HUL's Lakme.

However, Modi besides added determination is simply a request for betterment successful visibility and merchandising successful tier II cities.

Modi-Mundipharma Beauty Products, formerly known arsenic Modi-Revlon, portion of Umesh Modi Group, introduced Revlon successful India successful 1995. It sells colour cosmetics, fragrances, and hairsbreadth attraction products.

First Published

:

15 Nov 2023, 11:00 AM IST