How did MATLOOK Cosmetics started? Also shed light on your entrepreneurial journey so far?
MATTLOOK Cosmetics, a subsidiary of Little Profit Trading Company, was formed in 2017. It is a brainchild of my father Sonal Jain, and I have joined along in his endeavour. Also our family has been into the cosmetics business for over 35 years,
What is your take on current color cosmetics market in India in overall beauty and wellness market? What are the consumption trends in this segment?
As the economy is growing, concurrently the income is rising too which is accelerating the living standards. There is a penchant for anything related to fashion which is becoming imperative to possess to be a part of the social circles and hangouts. It’s not just the celebrities, A- listers or the page 3, even the middle class women want to be in the same boat and want to replicate the trend. They do not want to get spotted wearing the same clothes, shoes, bags or watches and make-up is no exception!
Therefore like the fashion and lifestyle sector the cosmetic sector too is experiencing an upward movement in India and is considered as one of the most diverse and energetic ones. Also with changing trends, customers are increasingly looking for value for money products which offer quality and keep pace with the fast changing trend, and provide a range of combined benefits of high priced premium products at a lower than premium cost.
Kindly shed light on your product categories and distribution points. Also, going forward what would the strategy to scale up the distribution? Also shed light on your pricing strategy?
MATTLOOK product range boasts of lipstick, eyeliner, kohl, mascara, makeup kit, nail paint and complete cosmetic range in the makeup segment. We already have a pan India presence with our own retail outlets and over 100+ retailer distribution across all metropolitan cities.
The brand is focused on product innovations and at par quality with other existing premium brands in the Indian market but striking a perfect product price balance.
What are the major operational challenges in your retail category?
There are some major operational challenges in this trade one is timely payment as the payment cycle becomes very prolonged. Even return of goods is a problematic. This sector also faces stiff competition and there is constant pressure to keep pace with the trend!
At last, kindly highlight your growth plans?
We are planning on expanding to east and south India. Also we aim to expand our product portfolio