In the following two years, Revlon plans to expand its operations in India by double and add 300 new stores

 In the following two years, Revlon plans to expand its operations in India by double and add 300 new stores

Meghna Modi, executive director and head of Revlon's Indian subcontinent, said that the business intends to grow its footprint four times from 1,000 department stores to 4,000 shops and increase the number of outlets from the existing 300 to 600.

Revlon, a beauty and cosmetics company that works with Modi-Pharma Beauty Products in India, intends to grow its offline network and add additional outlets in order to quadruple its revenue to Rs 400 crore in the current fiscal year. On November 14, a representative from the firm remarked. The business intends to double its footprint from 1,000 department shops to 4,000 stores and expand its number of outlets from the existing 300 to 600, according to Meghna Modi, executive director as well as head of Revlon's Indian subcontinent division.

In an effort to broaden its product offering for the Indian market, where the millennial age is predicted to drive significant development in the beauty and cosmetics industry, it is also thinking of launching fragrances under the Revlon brand. Revlon suffered during COVID-19, much like other beauty businesses. However, like other brands, it recovered quickly, with sales this holiday season becoming a "Diwali blockbuster."

"We have about 300 outlets whereas we are planning to open upwards of 600 outlets and increase our presence through 1,000 shopping centers to 4,000 department stores," Meghna Modi said when questioned about the expansion to PTI. Modi said, "This will take place in the next 2-3 years," when asked about the timing. Next year, we want to grow our business as well."

In the fiscal year that concluded on March 31, 2023, Revlon's revenue was around Rs 200 crore. In India, Revlon now receives 25% of its sales from online sources and the remaining 75% from offline channels including its own shops and department stores run by large merchants.

After 20 years away, Modi returned to head the Revlon firm a few weeks ago, and he claimed the company is also become more active on social media sites like Instagram. Revlon has competition from international companies like MAC Cosmetics and Estée Lauder in the luxury market. It also faces competition from a host of modern D2C or online competitors, including Nykaa, Sugar, MyGlamm, and L'Oréal's Maybelline, in addition to brands like Lakme.

A collaborative analysis by RedSeer Strategy Consultants and Peak projects that the Indian beauty and personal care industry would reach US$30 billion by 2027, representing 5% of the worldwide market. According to the analysis, per capita expenditure in the beauty and personal care (BPC) category in India is relatively low, but development possibilities are great as the nation prospers. BPC market size is predicted to reach over US$19 billion in 2022. will take place.

Revlon is placing its bet on the caliber of its product in the face of heightened competition in the cosmetics and beauty industry. He said, "Every time we conduct a study, consumers adore our products. We promise long-term and long-term care."

In addition, Revlon is competing with Maybelline from L'Oréal and Lakme from HUL by appealing to aspirational customers in tier II cities with an entry-level pricing of Rs 399. But Modi also said that tier II cities need to increase their exposure and sales.

Revlon was introduced in India in 1995 by Modi-MundiPharma Beauty Products, previously known as Modi-Revlon, a division of the Umesh Modi Group. It offers hair care products, perfumes, and color cosmetics.