The Beauty Center Group to open 20 stores, eyes Rs 1000 crore revenue in 10 years
Mumbai based beauty and cosmetic retail group The Beauty Center Group (TBCG) is all set to spread its wings across the country and will open 2 stores every year as part of its 10 year expansion plan. It expects to generate revenue of Rs 1000 crore (approx $ 150 million) post opening of its 20 stores.
The company is looking to expand its base outside Mumbai where it operates four stores and will soon be opening two exclusive outlets in Patna and Nagpur this year.
TBCG has earmarked a total budget of Rs 150 crore (approx $ 23 million) for all its 20 outlets which are estimated to be around 3,000-4,000 square feet. The company will also strengthen its workforce from the existing 720 to 3600 in the coming years.
Commenting on the company’s expansion plan, Sufyan Kapadia, Director, The Beauty Centre Group in a statement said, “Beauty and personal care market in India is expected to touch US $20 billion by 2025 growing at an annual rate of 13-18 percent. We are going to open 2 stores each year in India over the next 10 years. We are growing at high double digit and have reached at Rs 200 crore revenue this year. We expect to hit Rs 1,000 crore revenue with the hit of new 20 store milestone in the country.”
He further added, “Beauty Centre will bring convenience plus rich beauty and cosmetic shopping experience for the people across various cities. We are a consumer-driven company, which ensures that all our stores fulfil the needs of the entire beauty and cosmetic brands under one roof.”
The Beauty Centre Group which entered the retail beauty segment in 1990 currently has 4 major retail stores in the name of Beauty Centre, New Beauty Centre, The Beauty Shop and 1st Beauty across Mumbai.
The stores offers a wide range of products for men and women through leading brands such as L’Oreal, Garnier, Maybelline, Colorbar, Lakme, Paul Mitchell, Bath & Body works, Victoria’s Secret, Playboy, Nautica, Esprit, Jaguar and many more.
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