Revlon’s joint venture partner in India will make the brand available in 100 new retail locations soon.
“India has always been a priority market for Revlon with its ever-growing appetite for retail spending. These are exciting times for the company here as we are broadening our target horizon and plan to invest about $50,000 per store and plan to reach 100 stores in next three years,” Modi-Revlon Chairman and chief executive Umesh Modi said. Revlon and Modi Group of India have a contract in a ratio of 26:74 per cent. The company opened its first standalone kiosk in Delhi NCR and the company plans to open 20 stores or kiosks in the current year. The company expects a turnover of $ 60 million in the current year.
“Color cosmetics have always been the key focus for Revlon and contributes close to 70 per cent of our business in India. With the current cosmetic industry standing at a $256 million, Revlon enjoys nearly 14 per cent of its overall share and has 30 per cent of market when it comes to only color cosmetics,” Modi said.
