Colorbar Cosmetics, one of India’s leading cosmetics brands, has announced its retail expansion plans for Maharashtra, one of the most significant markets in the West region of India. With an extensive presence across 200 cities in India, Colorbar aims to add 100 new stores in the in the West region, out of which 78 will be in Maharashtra.
The brand is set to expand its reach to 20 more cities in India in 2023, with Mumbai, Pune, Nashik, Amravati, Nagpur, and Kolhapur leading 50% of the expansion.
Mr. Samir Kumaar Modi, Founder and Managing Director, Colorbar Cosmetics said,”Maharashtra has always been one of the key performing markets for us and we are thrilled to unveil our plans for retail expansion in the state. Our aim is to establish a stronger foothold and bolster our position in the beauty industry driven by the philosophy of ‘Made for Magic’, and to deliver a unique and unforgettable experience to every individual by infusing color and magic into their lives. Furthermore, we are deeply committed to empowering individuals across India through the pioneering initiative – BA Programme. This innovative program embodies the belief ‘Dare to Dream’ and offers unique incentives that are designed to help individuals embark on a ‘magical journey’ that creates pathways toachieve financial independence”.
Colorbar has a comprehensive range of innovative products to address each one’s unique needs. These products are curated and packaged in France, Germany, Italy, Korea & the United States of America, to deliver brilliant colors, luxurious textures and effective results. All products are ISO certified, 100% cruelty-free and conform to US, EU, UK & Japan FDA standards.
The brand holds a strong geographical footprint in the country – 100+ exclusive stores, 1300+ multi brand outlets and partner chains like Shoppers Stop, Lifestyle, New U, Pantaloons.
The brand has 3,000 Beauty Advisors, with women representing over 70%. These Beauty Advisors are presented with a remarkable opportunity to earn up to Rs. 2 lakh pm, alongside numerous additional benefits such as medical insurance, home and car ownership, and other attractive perks which is an industry first move.
The costmetics market in India is estimated to be Rs. 100,000 Cr (USD 12.59 bn) while globally, it is about USD 262 Bn. Ever since the 90s when Aishwaya Rai and Sushmita Sen were crowned Miss World and Miss Universe, there has been a flurry of activity in the beauty segment. While existing brands like Lakme strengthened their portfolios in the make-up and self care segment, global brands such as M.A.C, L’Oreal, Clinique, Maybelline, Forest Essentials, Biotique and many others have spread their products across the country.
The transformation of beauty parlours to become Unisex Salons is another significant move which has helped brands build a formidable beauty market in India.