The company, which is valued at around $300 million (Rs 21 billion approx.), is eyeing a bigger share of the Rs 180 billion beauty market in India. It has tough competition from Indian and international brands as the segment sees consumer interest grow along with disposable incomes. Colorbar's founder and managing director Samir Modi believes that what holds the brand in good stead is the keen focus on innovation coupled with strict standard of quality at affordable retail prices.Indian makeup and beauty brand Colorbar will expand its retail footprint aggressively over the next couple of years with the aim to reach 250 stores by the end of 2020. This fiscal, the company aims to open 20 standalone stores in addition to its current 80 stores. Moreover, it will continue to increase its presence at multi-brand outlets like Shoppers Stop, Lifestyle, New U, and Pantaloons.
The company, which is valued at around $300 million (Rs 21 billion approx.), is eyeing a bigger share of the Rs 180 billion beauty market in India. It has tough competition from Indian and international brands as the segment sees consumer interest grow along with disposable incomes. Colorbar's founder and managing director Samir Modi believes that what holds the brand in good stead is the keen focus on innovation coupled with strict standard of quality at affordable retail prices.
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