Modicom Lines Up Launch Of Cosmetic Range

Modicom, the network marketing company owned by the Delhi-based K K Modi family, is all set to launch a range of cosmetics by September under the brand Necessities. "It will be an entire range from skin care products to colour cosmetics," says Modicare vice-chairman & managing director Samir Modi.

To develop the cosmetics, Modicare has hired an expatriate who had earlier worked with cosmetics major Estee Lauder. In addition, Modicare is outsourcing research & development from laboratories in the US and Europe. To be launched in the mid-price segment, Necessities will take on established brands such as Lakme, Maybelline, Oriflame and Avon. The unique selling proposition of the cosmetics range will be its price. "It will be priced to sell," Modi added. It is worth noting that almost all Modicare products are priced 25-40 per cent lower than rival products.

 

Reluctant to discuss figures, Modi said that eventually, 50 per cent of Modicare's turnover will come from cosmetics.