Revlon, the beauty and cosmetics brand operating in India through its local partner, Modi-Mundipharma Beauty Products, is set to double its business to Rs 400 crore in the current fiscal year. With plans to enhance its offline network, the company aims to increase the number of outlets from 300 to 600 and expand its presence from 1,000 to 4,000 department stores.
Revlon Executive Director Meghna Modi expressed the brand’s focus on aggressive retail expansion in India, anticipating significant growth in the beauty and cosmetics sector driven by the millennial generation. The company also contemplates introducing Revlon-branded perfumes as part of its expanded product portfolio.
Like its competitors, Revlon saw a spike in demand during the COVID-19 pandemic and is currently having a “Diwali blockbuster” year in sales. “We have about 300 outlets and planning to go about 600 outlets and increase presence in 1,000 department stores to 4,000 department stores,” Meghna Modi said, outlining the expansion plans.
Within the next two to three years, the company hopes to achieve its ambitious expansion goals, which include doubling its business in the upcoming fiscal year.
Currently, offline channels like its stores and department stores run by major retailers account for the majority of Revlon’s sales in India, with online channels making up 25% of total sales. In keeping with changing consumer trends, the brand intends to increase its social media presence, especially on sites like Instagram.
In the luxury market, Revlon faces off against international names like MAC Cosmetics and Estee Lauder, as well as domestic rivals like Lakme and Maybelline from L’Oreal, as well as up-and-coming internet players like Nykaa, Sugar, and MyGlamm. Revlon hopes to establish a strong market position in India’s competitive and dynamic beauty and cosmetics industry through its strategic expansion and range of products.
