Retail India News: Coty Inc Expands Beauty Footprint with Strategic Investment and Key Appointments
Coty Inc. has unveiled ambitious plans to accelerate the footprint of its Prestige and Consumer Beauty business segments in India. This ambition is supported by significant investment in India, including the appointment of industry leader Rizwan Mulla as Business Development Director, India, the introduction of a new team and office space, as well as the signing of a strategic agreement with leading distribution and marketing company. , House of Beauty.
As the number one fragrance company in India, Coty has positioned itself as a major player in the Indian beauty market, which is worth $16.5 billion. Leading the new Coty India team, Rizwan Mulla brings more than 25 years of experience in operations management, business development, and marketing to Coty’s Southeast Asia leadership team. Based in Mumbai, Mulla will put his track record of nurturing business potential to work on maximizing revenue streams and business value. Underscoring Coty’s long-term commitment to India, Mulla will be tasked with identifying growth opportunities, refining operations, and developing key partnerships for Coty across India. Mulla and his team of Brand, Business Development, and e-commerce Managers will focus on growing key customer relationships while driving brand and omni-retail excellence among local distributors in the Prestige and Consumer Beauty divisions. .
Kristina Strunz, MD, Coty Southeast Asia and India says, “Over the past five years, we have witnessed the tremendous rise of Prestige Beauty in India, and it now represents one of the major long-term growth opportunities in Asia for Coty. The strategic investment in Coty’s India operations underlines the company’s ambition to strengthen our already strong presence in the huge Indian beauty market. We are excited to welcome Rizwan and the team as we prepare to accelerate growth in the luxury and everyday beauty segments in this dynamic and exciting market.”
India’s beauty sector has witnessed incredible growth over the past five years, fueled by greater access to the internet, rising income levels, and a growing population of young consumers who are increasingly aware of skin care and body care. Early adoption of makeup among youth and job market entrants have also been key drivers in accelerating the beauty and personal care market in India. Growing from $12.3 billion in 2018 to $15.6 billion in 2022, India’s beauty market is expected to reach $17.4 billion by 2025.
A key distribution market in Asia, India has welcomed major Coty prestige brands, including Gucci Beauty, Burberry Beauty, Hugo Boss, Calvin Klein, and Davidoff fragrances, and consumer brands such as Rimmel, MaxFactor, and Adidas . In financial year 2023, Coty India grew by +65 percent, and this growth trajectory is set to continue next year, supported by a series of new fragrance launches, blockbuster campaigns, and upcoming brand launches. Coty’s Prestige brands will impact major launch campaigns featuring the unveiling of Burberry Beauty’s new niche fragrance, Burberry Goddess and Her Elixir; the new Gucci Flora Magnolia release; and an exclusive lifestyle partnership for Davidoff. In the Consumer Beauty arena, Coty is set to delight local shoppers with its latest MaxFactor campaign and a new range from Adidas.
In another important milestone for Coty Inc., the company announced the appointment of a new strategic distribution partnership with House of Beauty. A signing ceremony between Kristina Strunz, Managing Director, Coty Southeast Asia and India, and Shriti Malhotra, Group CEO Quest Retail – House of Beauty, took place in Mumbai to mark this important collaboration. Tapping into the growing demand across India for Prestige Beauty, the agreement covers the launch of Kylie Cosmetics in India and the development of a retail marketing program to engage and inspire Kylie Jenner’s millions of fans across the country . As a leader in specialty beauty, House of Beauty leverages its extensive expertise in brand building and premium distribution to develop successful beauty brands and omnichannel retail concepts in India.
“We are proud to partner with House of Beauty to help Coty meet the growing demand for Prestige Beauty in India and look forward to launching Kylie Cosmetics in the coming months. Kylie Cosmetics represents a tremendous opportunity to advance Coty’s business in India, as the brand appeals to a modern consumer with an international outlook who cares about kindness, authenticity, and quality. Coty and the Kylie Cosmetics team have fearlessly grown the brand into a holistic, beauty lifestyle destination with global appeal – and we’re confident that this winning formula will go down well with beauty consumers in India,” added Strunz.
Shriti Malhotra, Group CEO, Quest Retail – House of Beauty added, “We are delighted to complete this partnership between Coty and our Group company, House of Beauty, to add Kylie Cosmetics to our exciting beauty portfolio. Led by Sanjali Giri (VP – International Brand Distribution), House of Beauty has proven successful in building and scaling premium global beauty brands through strong brand storytelling, superior distribution, strong partnerships and extensive that omnichannel expertise. Demand is growing across India for quality make-up, best-in-class innovation and immersive marketing activations from international beauty lifestyle brands. Together with Coty, we hope to strengthen our national portfolio and footprint, and hope to accelerate the rise of premium beauty in South Asia by highlighting Kylie Cosmetics in India.”
