Shiseido Co. is launching its first makeup brand in India in almost a decade, bringing popular line NARS Cosmetics to local beauty shops as it seeks to carve out a share of the booming consumer market.
Japan’s largest cosmetic company has partnered with Indian retailer Shoppers Stop Ltd.’s Global SS Beauty Brands and will open 14 stores in New Delhi and Mumbai this year, said Nicole Tan, head of Asia Pacific at Shiseido. It will also market NARS through LVMH Moet Hennessy Louis Vuitton SE’s Sephora shops, she said.
Global brands are being drawn to the world’s most-populous country, betting that its young shoppers and rising affluence will fuel expansion over the longer term. India’s cosmetic products market is projected to grow 4.2% a year over the next five years, driven by the popularity of the color cosmetics sector, according to a report by research firm Mordor Intelligence.The new launch may also help Shiseido diversify its earnings.
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