Indya enters the skincare segment, expects 20 percent revenue in two years
Women's fashion brand Indya, owned by High Street Essentials (HSE), has entered the skincare segment and expects it to contribute 20 percent to the company’s overall revenue over the next two years.
Indya will introduce 39 SKUs (stock-keeping unit) in the face care category in the price range of Rs 250 ($3.5) to Rs 1,450. The newly launched products will be available on the brand's website, exclusive brand stores, and online beauty marketplaces like Nykaa, Purplle, and Myntra.
"The US$2.5 billion skincare market, is one of the fastest-growing segments in India. By focusing our resources, robust logistics and marketing, and with our existing two billion-strong loyal customer base, we are aiming to grow this category swiftly," HSE co-founder, Tanvi Malik, said in a statement.
HSE co-founder, Shivani Poddar, added: “With Indya Skin Care we aim to be a brand that is not only affordable and delivers results but also provides a form of self-expression to the millennial Indian woman... With our fashion brands already retailing at all large platforms, we were confident to adopt the same strategy for skincare, too.”
Started in 2012 by Shivani Poddar and Tanvi Malik, HSE also owns fashion brand Faballey. HSE had reported net revenue of Rs 90 crore for the financial year 2018-19 with a profit of Rs 1 crore, with online contributing 55 percent to its overall revenue.
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