Learning from its past blemishes, cosmetic brand Tips & Toes hopes to put the gloss back into its business
The age of anonymity seems to have come to a close. Or so says Hemant Topiwala, director of the Rs 21 crore Paramount Cosmetics, the makers of Tips & Toes cosmetics and Shilpa and Shringar bindis.
After being nudged out by foreign players, the homegrown company is looking for a professional makeover.
From leveraging its brand name to launching new products, rationalising its range, infusing new blood into the company, and even hiring a leading consulting firm, Paramount appears to have learned from its past mistakes. It now wants to bring the colour back into its business.
Can it? Its bottomline has been smudged by losses. From a net profit of Rs 0.61 crore in 1999, Paramount registered a net loss of Rs 5.97 crore last fiscal.
So not only does it face the challenge of resurrecting Tips & Toes, a brand that was once a major contender in the Indian colour cosmetics market with a 30 per cent market share, it also has to get its house in order.
Besides, there are a plethora of established brands
