In a strategic move aimed at capturing the booming beauty market in India, Global SS Beauty Brands, a subsidiary of Shoppers Stop, is broadening its horizons by venturing into the mass beauty segment. CEO Biju Kassim recently shared insights on this ambitious plan during a discussion, highlighting the company’s intent to leverage the growing demand for affordable yet high-quality beauty products.

Expanding into the Mass Beauty Sector

The Indian beauty and personal care industry, currently valued at $21 billion, is projected to soar to $34 billion by 2028. This impressive growth, driven by the rising consumer demand for accessible beauty options, positions India as one of the fastest-growing beauty markets globally. According to consultancy firm Redseer, the market is expected to expand at an annual growth rate of 10%, outpacing even China’s projected 7% growth.

Strategic Partnerships to Enhance Offerings

To kickstart its efforts in the mass beauty category, Global SS Beauty Brands has secured a partnership with Note Cosmetique, a well-regarded Turkish beauty brand. Although Note has been present in the Indian market since 2014, primarily through digital channels, this collaboration will allow for a more robust presence in both online and offline retail spaces. Director Cihan Bayraktar noted that this partnership will significantly enhance Note’s visibility and accessibility.

In addition to Note, the company has recently introduced Armaf, a mid-range fragrance brand originating from West Asia. This expansion strategy reflects Global SS Beauty Brands’ commitment to diversifying its portfolio and tapping into more mass-market opportunities.

Affordable Beauty Products for Everyone

Global SS Beauty Brands aims to offer an extensive range of affordable makeup and fragrance products, with prices starting at Rs 399 for cosmetics and Rs 2,500-3,500 for fragrances. Kassim emphasizes that the mid-priced beauty segment is evolving, with global brands eager to cater to Indian consumers seeking quality without breaking the bank.

“I see this as a sweet spot for a number of global brands wanting to reach Indian consumers with good but affordable products,” Kassim expressed. As the luxury beauty market thrives among affluent consumers, experts suggest that the mass beauty sector is rebounding, presenting significant growth opportunities.

A Shift in Strategic Focus

Retail giants like Nykaa and Reliance Retail, alongside Shoppers Stop, are increasingly concentrating on the affordable beauty sector to foster growth. Kassim outlines a clear strategy for Global SS Beauty Brands, which currently features 85-90% luxury and prestige brands in its portfolio. However, this ratio is expected to shift, with masstige brands projected to comprise 30-35% of the portfolio in the coming years.

Shoppers Stop aims to elevate its beauty division’s contribution to total revenue from 18% to 25% within the next three years, reflecting a significant shift in focus towards more accessible beauty options.

By embracing this transformative strategy, Global SS Beauty Brands is poised to capitalize on the dynamic growth of the beauty and personal care market in India, catering to a diverse consumer base eager for quality products at attainable prices.