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Shoppers Stop looks to double its beauty business as global brands come knocking

Livemint

Livemint · 1y ago

Shoppers Stop looks to double its beauty business as global brands come knocking

Indian department store operator Shoppers Stop plans to double its beauty business in the next few years by partnering with more global brands and expanding its standalone beauty stores. The company reported revenues of INR 5,228 crore ($713 million) in the last fiscal year, with the beauty business accounting for INR 887 crore ($121 million), up 10% YoY. Shoppers Stop manages specialty beauty stores for brands like M.A.C., Estée Lauder, and Bobbi Brown in India and also operates the multi-brand online beauty store SS Beauty. The company aims to increase the beauty business contribution to its overall revenue from the current 17-18% to 25% in the next two to three years.

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Myntra appoints Shoppers Stop's Venu Nair as chief of strategic partnerships and omnichannel

Economic Times

Economic Times · 1y ago

Myntra appoints Shoppers Stop's Venu Nair as chief of strategic partnerships and omnichannel

Fashion platform Myntra has appointed Venu Nair as its new chief of strategic partnerships and omnichannel. Nair joins Myntra from Shoppers Stop, where he served as the managing director and CEO. In his new role, Nair will be responsible for managing international brands and forging strategic partnerships with global brands at Myntra. He will also oversee the omnichannel strategy for brands. The appointment comes as Myntra aims to expand its range of brands and strengthen its position in the fashion ecommerce market.

Will Tira’s Private Label Play Help Reliance Retail Outpace Nykaa?

Inc42 · 1y ago

Will Tira’s Private Label Play Help Reliance Retail Outpace Nykaa?

Private labels have become a popular strategy for retail giants like Future Group, Shoppers Stop, and Amazon to maximize profits and cater to customer preferences. Reliance Retail's Tira is now following suit and introducing its own private label. This move aims to drive profitability, improve efficiency, and compete in the increasingly competitive beauty and personal care segment. By offering competitive pricing and leveraging their financial strength, companies like Reliance can diminish the competitive advantage of rivals and gain market share. Creating popular private label brands has become a crucial aspect of business strategies for online retailers.

GoKwik secures $13 M in round led by RTP Global

YourStory

YourStory · 22d ago

GoKwik secures $13 M in round led by RTP Global

GoKwik, an ecommerce enablement platform, has raised $13 million in a growth round led by RTP Global, with participation from existing investors. The funds will support international expansion and AI-driven platform development. Founded in 2020, GoKwik has secured $68 million in total funding and offers services like KwikCheckout and Return Prime. Its products, integrated across various platforms, already serve brands such as Mamaearth and Shoppers Stop, while expanding operations in the UK.

Shoppers Stop Q3 Results: Net profit drops 41% to ₹37 crore, revenue up 8% YoY

Livemint

Livemint · 1y ago

Shoppers Stop Q3 Results: Net profit drops 41% to ₹37 crore, revenue up 8% YoY

Shoppers Stop reported a decline of 41.26% in consolidated net profit for Q3FY24, at Rs 36.85 crore. The company's revenue from operations was up 8.83% to Rs 1,237.52 crore. Total revenue, including other income, stood at Rs 1,240.88 crore. Despite muted consumer demand, the company achieved a sales growth of 7% by focusing on premium brands and experiences. Shoppers Stop operates 105 department stores and added 13 new stores during the quarter.

Google launches AR beauty tools for shoppers and brands

Economic Times

Economic Times · 1y ago

Google launches AR beauty tools for shoppers and brands

Google has launched AR beauty tools for shoppers and brands to enhance the shopping experience. These tools, powered by augmented reality technology, allow users to virtually try on cosmetics products before making a purchase. This move is aimed at helping online beauty retailers provide a more interactive and personalized experience for their customers. The AR beauty tools are expected to revolutionize the way people shop for beauty products online.

E-Commerce Makes India a Makeup Haven

StartupTalky

StartupTalky · 1y ago

E-Commerce Makes India a Makeup Haven

The Indian beauty industry is experiencing a boom, with e-commerce playing a crucial role in its growth. Factors such as rising disposable incomes, increasing internet penetration, convenience, and a diverse product selection are driving this transformation. The integration of social media and influencer marketing is also changing the way Indians perceive and purchase beauty products. While there are challenges, such as logistics, counterfeiting, and digital literacy, the future of e-commerce for beauty products in India looks promising, offering great opportunities for brands to reach a wider audience and grow their businesses.

Flipkart, Amazon ramping up their beauty business, eye small-town shoppers

Livemint

Livemint · 1y ago

Flipkart, Amazon ramping up their beauty business, eye small-town shoppers

E-commerce giants Flipkart and Amazon are aggressively expanding their beauty and personal care (BPC) business in India. With the goal of reaching customers in smaller cities and towns, both companies aim to capitalize on the explosive growth in the BPC category. Flipkart is eyeing to double the category's value within the next four to five years, driven by innovation from direct-to-consumer brands and higher adoption in tier-II and tier-III markets. Similarly, Amazon plans to bring access to quality beauty products to every pin code in the country and sees beauty as one of its top categories for driving growth.

BIA Brands focused on fast-moving consumer brands acquires Asa Beauty

IndianStartupNews

IndianStartupNews · 1y ago

BIA Brands focused on fast-moving consumer brands acquires Asa Beauty

BIA Brands, a company specializing in FMCG, has acquired Asa Beauty as part of its strategy to strengthen its presence in the beauty and personal care industry. Asa Beauty, known for its clean, vegan makeup products, is the second skincare acquisition for BIA Brands. The company aims to build a portfolio of global brands originating from India and has recently expanded into the food and beverage sector. The acquisition reflects the growing interest in the Indian FMCG market, particularly in beauty and personal care, which is expected to reach $28 billion by 2030.

Purplle.com - Company Profile | Beauty Startup

StartupTalky

StartupTalky · 1y ago

Purplle is an Indian multi-brand beauty retailer that sells cosmetic and wellness products online. Founded in 2011, it offers a wide range of skincare, haircare, cosmetics, and fragrance products from various brands. Purplle aims to provide a personalized shopping experience for customers by considering their specific needs, such as skin and hair type. The company has been growing rapidly and has become a popular choice among online shoppers in the beauty industry.

BIA Brands Marks Second Skincare Acquisition With Asa Beauty

Inc42 · 1y ago

BIA Brands Marks Second Skincare Acquisition With Asa Beauty

BIA Brands, a fast-moving consumer goods (FMCG) company, has acquired beauty brand Asa Beauty to expand its presence in the beauty and personal care (BPC) space. This marks BIA Brands' second acquisition in the skincare segment, following its purchase of TrueKind in December 2022. Asa Beauty offers clean and ethical makeup products. BIA Brands aims to build global brands originating from India and has previously made acquisitions in the food and beverage industry. The company's CEO expressed confidence in the acquisition, stating that Asa Beauty aligns with BIA Brands' values of excellence, innovation, and sustainability.

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