Kiko Milano is eyeing massive expansion across India. The Italian cosmetic brand is planning to add 45 more stores across the country by 2020.
Currently, Kiko Milano has 11 stores across India.
Abhishek Bhattacharya, Country Director at Kiko Milano, said, “We will focus on having more point of sales, whether it’s exclusive outlets, online or shop-in-shop. We have two more outlets coming up in Delhi, and one each in Lucknow, Mumbai, Guwahati (the first in northeast India), and Kolkata.”
The brand’s expansion will be done via the store-in-store concept, exclusive brand outlets (EBO) and by collaborating with various e-commerce channels.
“Initially we thought of opening just the retail stores, but we have understood that in the Indian market, it has to be a mix of retail and other modes of expansion. We have our shop-in-shop (SIS) concept, and we are also going to tie with more departmental stores, in addition to exclusive brand outlets,” Bhattacharya further added.
Recently, Kiko Milano launched its door to the customers in Dwarka, Delhi.
Indian cosmetics market
In India, the cosmetic & skin care market is booming like never before. In fact, India is emerging as the largest cosmetic consuming country owing to the recent growth drive. Therefore, more and more global brands are venturing into India to tap the booming cosmetic market.
As per industry experts, India's cosmetics and cosmeceutical market will likely register an annual growth of 25%, touching $20 billion by 2025.
Factors boosting demand in the cosmetics industry
The factors that are aiding India cosmetics’ market include increasing demand from the youth population, increasing adoption of western culture & lifestyle, and the increasing number of beauty salons. Moreover, increasing per capita expenditure on personal appearance and growth in the beauty and cosmetics market are some of the other factors expected to propel the demand for the cosmetic market over the next five years.
In India, the cosmetics industry is also being driven by the increasing demand for herbal cosmetic products, the high adoption of which has led to the growth of the segment at 15% annually. This is mainly due to the fact that people are becoming more aware of the possible side effects on skin by the constant use of chemical formulations-based cosmetics.
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