Revlon India to have 100 outlets by 2017
Leading cosmetics brand Revlon India is planning to set up 100 exclusive outlets by 2017 and expects the stores to contribute to approximately 20 per cent of its sales by next year.
"We have 27 outlets to date and this year we would like to end with 30-35 stores.... We would like to reach 100 by end of 2017," said Rajiv Kumar Bobal, Revlon India director of sales and marketing.
"As of now the contribution is very insignificant because we have just 27 exclusive stores but we would like the exclusive outlets to contribute 20 per cent. It should happen around 2017-end when we have about 100 stores," he said.
Bobal added that the stores would be across formats, including kiosks, and would be a mix of company-owned and franchise-operated outlets.
At present, 25 to 30 per cent of its exclusive stores are company owned and the ratio might change when it opens its 100th store.
The company invests 5-10 per cent of its revenues into marketing activities and has allocated a higher share for digital marketing.
Revlon India currently enjoys a market share of 13-15 per cent in the $233-million colour cosmetics market and around 4 per cent in the $ 274-million hair colour market.
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