Inglot lays out plans to strengthen in India
In a recent report from the Business Standard, the premium cosmetics brand explained that it is keen to build on its already impressive global showing of 600 stores across 80 countries, with building its profile within India is the next step on the agenda.
“In our experience, some markets need time and research, and after seven years in India, we are ready to ramp up our presence,” Zbigniew Inglot, chairman of the board of directors, is quoted as saying.
The cosmetics firm aims to open two stores a month in India in the coming four years, confirming that the country is an increasingly attractive market for prestige beauty companies.
Remaining premium
Tushar Ved, president, major brands, India, explained that Inglot will stick to its already popular premium range, and not diversify into lower tier products.
“We do not plan to have tiered pricing for India and intend to continue playing in the premium cosmetics category, since it is directly linked to the quality of the raw materials used at Inglot’s manufacturing unit,” the company head explained.
Recent market reports suggest this may be a savvy move; beauty retail growth in India is being driven by an increase in per capita income, a rising urban middle class population and the growing interest among women for higher end cosmetics products for day-to-day wear.
Working women
These growing trends have the rise of professional women to thank, according to Karan Chechi, director with market research firm TechSci Research.
"Owing to the rising desire amongst Indian women to be financially independent, there has been more than 10% increase in the number of working women in India over the last four decades,” he explains.
“High disposable income and changing lifestyle pattern among women is anticipated to intensify the opportunities for women's cosmetic players operating in the country."
