Mary Kay plans additional investment in India

US-based cosmetic firm Mary Kay today said it would undertake additional investment of around Rs 40 crore to enhance its infrastructure and business in India.

The direct selling firm, which entered into the Indian market in 2007, is already in the process of investing around Rs 90 crore over a period of five years.

"Mary Kay would invest an additional $9 million (Rs 40 crore)in India over the next 3 to 4 years to boost its infrastructure, technology transfer and training," Mary Kay Cosmetics Country Manager Hina Nagarajan told PTI.

The company, which sells skin care, colour cosmetics and fragrances, has been growing over 40 per cent annually and is looking at expanding its product portfolio in India.

"We are now exploring the hair care category as well as very innovative launches in skin care. We will also be enhancing our colour product range," she said.

Nagarajan said in India skin care, colour and fragrances have been the key drivers of growth for the company. It recently entered the personal care category with the launch of a new range of bath soaps.

"In the second half of the year, we will be looking at five-six more launches," she added.

Mary Kay is present in more than 35 global markets. Its top markets include China, Mexico, Russia and the United States. Its global sales stood at $2.5 billion last year.

"While the contribution of India is small today, we expect that we could be as large as in China over the next few years," Nagarajan said.