Belora Cosmetics eyes Rs 500 crore annual run rate in three to four years, to open EBOs
Belora Cosmetics aims to achieve an annual run rate of Rs 500 crore for its beauty business in the coming three to four years through omni-channel expansion. The business also aims to begin opening exclusive brand outlets this year, ET Bureau reported.
“We would want to be amongst the top five makeup brands in India over the next few years,” Belora Cosmetics’ co-founder Ainara Kaur told ET Retail. “We don’t have any immediate plans of fund raising as we are adequately capitalised at present.”
The business currently retails through a network of around 100 shop-in-shops in multi-brand outlets across India. Over the coming two months, Belora Cosmetics plans to open shop-in-shops in a further 100 retail outlets and then reach a total of 500 shop-in-shops in the coming 12 months.
Betting big on offline retail, Belora Cosmetics expects exclusive brand outlets to drive growth following data collected about its online and offline products, according to Kaur. The business is confident that physical store sales will contribute between 30% and 40% to its total revenue in the near future.
Belora Cosmetics conducts its research and development in Europe, according to the business. The business began by retailing in Tier 1 cities and has since expanded into Tier 2 and 3 locations. The next step for the business is international expansion, beginning with the US market through e-commerce platform Amazon.
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