Shisedo, the globally acclaimed brand, popular for its cosmetics and skin care range in the Asian markets has entered India with Shoppers Stop group. The company, in a joint venture with Global SS Beauty Brands Limited, a subsidiary of the parent company, will expand its footprint in the country. Shiseido is headquartered in Japan and is recognised among the top five beauty brands in the world comprising of iconic skincare, make-up and fragrance brands including SHISEIDO, NARS, Drunk Elephant, Clé de Peau Beauté, Narciso Rodriguez, Issey Miyake and Serge Lutens, amongst others. NARS cosmetics, the New York based global make-up brand will be launched across key cities in India in the second half of 2023. The brand, which was launched by makeup artist Francois Nars, in 1994 with a collection of 12 lipsticks in Barneys, was acquired by Shiseido in 2000.
Mr. Venu Nair, Customer Care Associate, MD and CEO at Shoppers Stop said; “Beauty is a key strategic pillar for us. Our partnership with Shiseido Asia Pacific is in line with our commitment to bring to customers in India the best of Globalbrands. This collaboration will further strengthen Shoppers Stop’s purpose of inspiring consumers to look good and feel confident and will help grow the rapidly evolving Beauty market in India. Our wide network and strong omnichannel presence will serve as a springboard for Shiseido, and will allow NARS to launch in India with higher speed and efficiency.”
Nicole Tan, President & CEO, Shiseido Asia Pacific Pte. Ltd. said “The beauty market in India has evolved considerably in the last few years with loyal consumers who are actively adding global brands to their collection of beauty products. Our global brand SHISIEDO has been present in the market since 2001 and focuses on the premium segment with our portfolio offragrance brands. We believe this a great time to expand our presence in India, and we are thrilled to have formalised the partnership with Global SS Beauty Brand/ Shoppers Stop. We look forward to leveraging their deep experience in premium beauty as well as their extensive network and omnichannel presence, to bring one of our most-loved make-up brands, NARS, to consumers in India,”.
The beuaty and personal care market in India is estimated to be US $ 27 bn in 2023. For the last 3 decades, international brands have been pushing harder in the market with various products and offering. Aishwarya Rai and Sushmita Sen, who won world acclaim with Miss World and Miss Universe titles respectively in the 90s, have been the faces of several international brands in beauty and cosmetics over the years. Many times ridiculed for portraying good-looking women as those who are only make-up clad, the industry has fought its odds over the years and has been steadily growing.
When the pandemic hit in Q1 FY 20-21, the beauty market was the first one to be massively impacted, next only to fashion apparel. With no workplaces or parties to attend, or anything in between to go to regularly, women were left with no option but not to buy cosmetics. By the end of 2021, things started improving slowly and the recovery in this segment is yet to match even 75% pre-pandemic numbers. This is due to a fourth of the women folk who work in several large and formal ndustries such as IT & ITES, Banking, Advertising, etc. continue to work from home, or at best in a hybrid way.
The BIG-FAT Indian wedding, which is estimated to be US $ 130 bn annually has kicked off well in 2022, although with fewer muhurats. Yet, the beauty and fashion industry has benefited from the upswing in the mood of Indian consumers. In 2023, the spend on personal care, including those my gentlemen, is expected to exceed 2019 levels.