Revlon to open 300 new magnificence shops in India
Magnificence model Revlon plans to open round 300 brick-and-mortar shops and enhance its presence in multi-brand shops within the coming two to a few years. The US-based enterprise will harness an expanded retail presence to develop its buyer base and improve its income.
Revlon sees Indian Tier 2 cities as presenting a big alternative for development – Revlon India- Fb
“We now have round 300 shops and planning to go round 600 shops and improve presence in 1,000 department shops to 4,000 department shops,” Revlon’s government director and head of Revlon Indian subcontinent Meghna Modi instructed the Press Belief of India. “It is going to be within the subsequent two to a few years. We may even double our enterprise subsequent yr.”
The enterprise reported a turnover of roughly Rs 200 crore for the 2023 monetary yr. Revlon retails within the Indian market by way of a mixture of e-commerce retail and brick-and-mortar shops and shop-in-shops. E-commerce at the moment accounts for 1 / 4 of Revlon’s gross sales and the enterprise is specializing in bolstering its social media presence to extend on-line model visibility within the nation, India Retailing reported.
In India, Revlon, retails by way of its nation accomplice Modi-Mundipharma Magnificence Merchandise. The model is more and more focusing on buyers in Tier 2 cities to faucet into the rising demand for branded magnificence items in non-metro areas. Revlon can also be contemplating increasing its product choice in India by launching a perfume line, the Press Belief of India reported.
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