Revlon trying to double India enterprise to ₹400 crore this fiscal: report

Revlon, which operates in India by means of native companion Modi-Mundipharma Magnificence Merchandise, is planning to extend the variety of shops to 600 and in addition quadruple its presence from 1,000 departmental shops to 4,000 shops.

“We’ve got round 300 shops and planning to go round 600 shops and enhance presence in 1,000 shops to 4,000 shops,” Revlon govt director and head of Revlon Indian Subcontinent Meghna Modi was quoted as saying by PTI.

“It is going to be within the subsequent 2-3 years. We may also double our enterprise subsequent 12 months,” she additionally stated.

As a part of the growth of its product portfolio for the Indian market, the corporate is contemplating to introduce fragrance below the model Revlon.

For the monetary 12 months 2023, Revlon’s turnover stood at round ₹200 crore. 

At the moment, its 25% of gross sales in India come from on-line and the remainder gross sales is from offline channels like its shops and departmental shops operated by main retailers. 

“Every time we do a examine, shoppers love our merchandise,” she advised PTI. “Our promise is good distance and lengthy care.”

There’s a want for enchancment in visibility and merchandising in tier II cities, she stated.

The wonder firm can be focusing on aspirational shoppers from tier II cities with its reasonably priced entry worth factors ranging from ₹399 onwards. Additionally it is beefing up its presence on social media platforms akin to Instagram.

Modi-Mundipharma Magnificence Merchandise, previously often called Modi-Revlon, a part of Umesh Modi Group, launched Revlon in India in 1995. It sells color cosmetics, fragrances, and hair care merchandise. 

Within the luxurious phase, Revlon competes with manufacturers akin to MAC Cosmetics, Estee Lauder, Lakme, L’Oreal’s Maybelline.

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Up to date: 14 Nov 2023, 09:09 PM IST