Shoppers Stop arm steps up focus on mid-priced beauty brands

Global SS Beauty Brands, a wholly-owned subsidiary of Shoppers Stop, which is best known for distributing luxury beauty labels such as NARS, Armani, Valentino, and Prada, among others, will increasingly tap the mass beauty segment as it eyes its next level of growth, CEO Biju Kassim said in a conversation with FE.

- Viveat Susan Pinto

The move comes as the domestic beauty and personal care market, currently valued at $21 billion, is set to touch $34 billion by 2028, according to industry forecasts, driven by growing aspirations for affordable, but good quality products. India will also be among the fastest-growing beauty markets in the world, moving at 10% per annum between now and 2028, ahead of China, which will grow at 7% per annum, consultancy firm Redseer said in a recent report.

Global SS Beauty Brands, which competes with Baccarose, also a leading distributor of beauty and fragrance products in India, has taken the first few steps in its endeavour to expand its portfolio, tying up with Turkish beauty brand Note Cosmetique to distribute the brand in the country.