New Delhi: Premium colour cosmetics brand Revlon India is planning to foray into the mass segment with the launch of hair colours priced under the Rs 200 range and economical cosmetic products, shared a top official of the company.
Speaking to ETRetail exclusively, UK Modi, Chairman, U.K. Modi Group said, “Premium is a niche market in India. If we remain niche, our business will remain limited and we cannot expect phenomenal growth.”
“If we want to grow and exploit the brand, we need to go to the masses in India. This will be the next phase of growth for Revlon India,” he noted.
The beauty major will launch its hair colour range targeted at the masses by mid-next year. The products will be sold online via its D2C website and e-commerce platforms and offline through its standalone stores, MBOs and general trade.
Revlon’s present range of hair colour products is priced at Rs 200 onwards going as high as Rs 700. By entering into the affordable hair colour segment, Revlon India will be competing against the likes of Garnier which is owned by French cosmetics brand L’Oreal and Godrej Expert from the house of Godrej Consumer Products. Close to 90 per cent hair colour market is dominated by sachets and packs priced below Rs 200.
“Street Wear is priced competitively in the mass premium segment and we are looking at launching more products in this segment in the coming year,” Modi said. The company plans to expand Street Wear’s portfolio by launching more face and eye cosmetic products in the coming months.
Highlighting the factors which will help the brand gain foothold in the competitive mass market, he said that brand recognition and product quality will be the two pillars of growth for Revlon in the affordable cosmetics and hair colour segment. “Consumers know Revlon as an international colour cosmetic brand. We will leverage this position when we launch products.”
UK Modi Group runs Modi-Mundipharma Beauty Products, the company that introduced the international cosmetics brand Revlon in India in 1995. Modi-Mundipharma Beauty Products was earlier known as Modi-Revlon.
Sharing growth numbers, Modi said that the company is back to pre-COVID levels and is eyeing a 40 per cent year-on-year growth next year onwards on the back of its foray into mass markets.
Revlon India recently opened its largest store in Delhi. The company has a strong presence in general and modern trade and runs over a hundred exclusive brand outlets across the country.
While offline is the dominating sales channel for the brand, its e-commerce sales are doubling and the company is aiming to increase online contribution to the business to 25-30 per cent, Modi shared adding that presently online channels are at about 20 per cent.