India Retail News: Coty Inc expands in beauty with strategic investments and key appointments
Coty Inc. has announced ambitious plans to accelerate the expansion of its Prestige and Consumer Beauty business units in India. This ambition is underpinned by significant investment in India, including the appointment of industry leader Rizwan Mulla as India Business Development Director, the introduction of new teams and office facilities, and the signing of strategic agreements with leading distribution and marketing companies. It is being , House of Beauty.
Coty, India’s number one fragrance company, has already established itself as a key player in India’s beauty market, valued at $16.5 billion. Rizwan Mulla, who will lead the new Coty India team, brings over 25 years of experience in operations management, business development and marketing to his Coty Southeast Asia leadership team. Based in Mumbai, Mr. Mulla brings a proven track record of developing business potential to maximize revenue streams and business value. Underscoring Coty’s long-term commitment to India, Mr. Mulla will be tasked with identifying growth opportunities, improving operations and fostering valuable partnerships with Coty across India. Mr. Mulla and his team of brand, business development, and e-commerce managers work with key customers while driving brand and omni-retail excellence with local distributors across the prestige and consumer beauty sectors. We will focus on nurturing relationships.
said Dr. Christina Struntz, Coty Southeast Asia and India.Over the past five years, we have witnessed the rapid rise of prestige beauty in India. Today, this represents one of Coty’s key long-term growth opportunities in Asia. The strategic investment in Coty’s operations in India underscores the company’s ambition to solidify its already strong presence in India’s huge beauty market. We are excited to welcome Rizwan and his team as we position ourselves to accelerate growth across the luxury and everyday beauty segments in this dynamic and exciting market.”
India’s beauty sector has experienced tremendous growth over the past five years, driven by widespread internet access, rising income levels, and a growing population of young consumers who are increasingly conscious about skin and body care. . Early adoption of make-up among teenagers and young people entering the job market is also a key driver for the acceleration of the beauty and personal care market in India. The Indian beauty market is expected to grow from $12.3 billion in 2018 to $15.6 billion in 2022 and reach $17.4 billion by 2025.
A major distribution market in Asia, India hosts major Coty Prestige brands such as Gucci Beauty, Burberry Beauty, Hugo Boss, Calvin Klein and Davidoff fragrances, as well as consumer brands such as Rimmel, Max Factor and Adidas . In FY23, Coty India grew +65%. This growth trajectory is set to continue next year, supported by a series of new fragrance launches, a blockbuster He campaign and upcoming brand launches. Coty’s Prestige brand will make an impact with a major launch campaign featuring the launch of Burberry Beauty’s new niche fragrance, Burberry Goddess and Her Elixir. New Gucci Flora Magnolia. and an exclusive lifestyle partnership with Davidoff. In the consumer beauty space, Coty plans to satisfy local consumers with its latest Max Factor campaign and new products from Adidas.
In another significant milestone for Coty Inc., the company announced a new strategic distribution partnership with House of Beauty. To commemorate this important partnership, a signing ceremony between Christina Struntz, Managing Director, Coty Southeast Asia and India, and Shriti Malhotra, Group CEO, Quest Retail House of Beauty was held in Mumbai. It was held in To capitalize on the growing demand for prestige beauty across India, the deal includes the launch of Kylie Cosmetics in India and a retail brand that will captivate and inspire millions of Kylie Jenner fans across India. Includes marketing program development. As a leader in specialty beauty, House of Beauty leverages its extensive expertise in brand building and premium distribution to develop successful beauty brands and omnichannel retail concepts in India.
“We are proud to partner with House of Beauty to help Coty meet the growing demand for prestige beauty in India and look forward to launching Kylie Cosmetics in the coming months. Masu. Kylie Cosmetics represents a huge opportunity to drive Coty’s business in India as the brand appeals to today’s internationally minded shoppers who value kindness, authenticity and quality. Coty and the Kylie Cosmetics team have fearlessly grown the brand into a comprehensive beauty lifestyle destination with global appeal. And we are confident that this winning formula will resonate with Indian beauty shoppers.” added Storz.
Shriti Malhotra, Group CEO, Quest Retail – House of Beauty added:We are delighted to complete our partnership with Coty and our group company, House of Beauty, and add Kylie Cosmetics to our exciting beauty portfolio. Led by Sanjali Giri (VP – International Brand Distribution), House of Beauty builds and scales premium global beauty brands through strong brand storytelling, superior distribution, strong partnerships and extensive omnichannel expertise. has been proven to be successful. Across India, there is a growing demand for quality makeup, best-in-class innovation, and immersive marketing efforts from international beauty lifestyle brands. We look forward to working with Coty to strengthen our domestic portfolio and footprint, and by making Kylie Cosmetics shine in India, we hope to accelerate the rise of premium her beauty in South Asia. .”
