NARS Cosmetics plans to be among top 5 premium makeup brands here
NARS Cosmetics, part of Shiseido Group from Japan, aims to be among the top five premium makeup brands in India within 3 years of its entry, Nicole Tan, president & CEO of Shiseido APAC, told ET.
Shiseido Group has entered into a distribution partnership with Global Ss Beauty Brands, a subsidiary of Shoppers Stop.
Shiseido is a skincare, suncare and makeup brand under the Shiseido group and had entered India in 2001 with Baccarose.
Apart from online and shop-in-shop stores, the company has also planned to open 3 exclusive brand outlets within this calendar year and double the number next year.
«India as a market has been developing a lot over the last few years. And in the last few years, we have begun to see a lot of demand for international brands as Indian consumers become more aware and exposed to international brands,» said Tan.
The company has so far not seen any slowdown in the APAC markets, but it is concerned about next year due to the continued interest rate environment.
«But I think, at this point, India is in a different place, with strong growth in GDP and consumer trends. Many other brands are indicating interest to enter the market and we are all probably looking at the same sets of data.
I don't think any of us really expect to see any massive slowdown in India. In fact, it will accelerate,» said Tan.
In other APAC markets, the growth for the company hasn't slowed down but there is certain softness in regions such as China.
The company will continue to import from US and has no immediate plan to manufacture in India.
