Major Brands to invest Rs 80 crore on Bath & Body Works India expansion
Indian retailer Major Brands, which owns the marketing and distribution rights for American bath products and skincare giant Bath & Body Works, is planning to invest Rs 80 crore (approx $11.7 million) on the expansion of the brand in India.
Bath & Body Works entered the Indian market with its first two stores at Select City Walk in New Delhi and at the DLF Mall of India Noida on Thursday.
Major Brands is now planning to take Bath & Body Works to other leading metros like Mumbai, Chennai and Bengaluru by next year to tap into the growing beauty segment which is expected to touch USD 20 billion by 2025.
"We are excited to add yet another international category leader to our portfolio. The market size of India's beauty, cosmetic and grooming market is expected to reach USD 20 billion by 2025 from the current USD 6.5 billion. A rising aspiration among Indians to look better groomed to feel good has led to this market's rapid growth of more than 42 percent in the last five years," said President Major Brands India Pvt. Ltd, Tushar Ved said in a statement.
"We have planned for an investment of approximately Rs 80 crore for India over the next two years. After Mumbai, we also plan to open Bath & Body Works stores in the best malls of Bengaluru and Chennai," Ved said.
Bath & Body Works is one of world’s leading specialty retailers of fragrant products for the body, hands and home.
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