Colorbar aims Rs 200 cr turnover with entry into men's segment

Wellness and cosmetics brand Colorbar Cosmetics is aiming to be a Rs 200 crore firm within the next three years on the back of its new foray into exclusive retail business and planned venture into men's segment. 

The company, which today opened its first exclusive outlet in Delhi, is looking to enter the men's cosmetics segment with skin care products by year-end.     

"Our plan is to be a Rs 200 crore company by 2011-12 and we are also looking at garnering at least 8-9 per cent of the estimated Rs 500 crore Indian organised colour cosmetics market by end of this fiscal," Colorbar Cosmetics Managing Director Samir Modi told PTI.He said the company, which had a turnover of Rs 32 crore in 2008-09, will focus more on its just-launched exclusive retail format.     

 

"We plan to have 10 such stores in the major metros in two years' time. Exclusive outlets offer us to display our entire range in one place and achieve greater consumer interface," Modi said.     

The company is also planning to foray into men's colour cosmetics for the first time.     

"We will launch our skin care range for both men and women by end of 2009. The wellness products market in the men's segment is growing at a fast rate and we want to tap it," he added.   

"The skin care range will have items like cleansers, anti-ageing creams and abdomen reduction cream. Many of the products will be specifically for the male customers," Modi said.     

Colorbar Cosmetics has a range of over 500 products. Its entire range is imported from Italy, Germany, France and Greece.     

The company markets its product range through over 650 shop-in-shops in large format and multi-branded stores across the country.