The company has been mulling expansion into the market for some years, but with urban Indian women now enjoying higher levels of independence and income, this is now translating into real spend on increasingly sophisticated cosmetic products the time seems right.
The store is located in the Select Citywalk, which is an up-market mall containing some of the leading international luxury retailers and brands, and is proving very popular with the growing middle class urban Indian.
A full range of products catering to Indian demands
The store will offer a full range of Bobbi Brown colour cosmetics, many of which are targeted specifically at Indian skin types.
The main product range includes make-up, brushes and skin care products, including BB cream, tinted moisturisers, skin foundation, correcter and creamy concealer.
Although Bobbi Brown products have been for sales in department stores and online for some years in India, the move to open a standalone store underlines the company’s commitment to the market, and its hope to tap into future growth.
Bobbi Brown Cosmetics are now available in 20 countries, while the brand has been fast expanding in the Asia Pacific region in recent years, where it now has divisions in China, Taiwan, Malaysia, Hong Kong, Singapore, Thailand and Australia.
Projected population growth and consumer demand in India
India is increasingly attracting big international cosmetics players, and last year the world’s biggest player, L’Oreal, opened a new research facility in the country, underlining its heightened commitment to the market.
These international players are targeting India’s big demographic advantage, which could see the country become the world's biggest economy in the coming decades.
Euromonitor forecasts that the country will have the world's largest population by 2025, while its working-age population will increase by 11.6 percent between 2013-2020, compared to a predicted fall of 3.1 percent in China.
Rising purchasing power and fashion consciousness are driving the cosmetics sector in India, which is currently estimated at INR 261.4bn ($3.5bn) and is anticipated to grow at a CAGR of around 17 per cent during 2011-15, according to a recent report from market researcher Rncos. ‘
Shushmul Maheshwari, chief executive of Rncos, said that as Indian consumers are becoming more conscious of their looks, they are looking for tailored products to fulfill their specific needs, with demand in the market not just limited to traditional products such as talcum powder and fairness creams.
Maheshwari also stresses the fact that fragrances and colour cosmetics are likely to witness maximum growth in India over the coming years. “Influence of the western world, the increasing working population and growing consciousness about looks and appearance are driving the growth in these segments,” he said.