Japanese beauty brand Shiseido is now doubling down on the Indian market after selling some of its products through retail channels for over two decades now. The beauty brand opened its first standalone boutique store in India in Mumbai on Wednesday and it is also bringing its cosmetics line NARS to India through a partnership with Shoppers Stop.

Share Market Live

NSE

Its ambition now is not only to accelerate its presence in the country, but also make NARS one of the top five makeup brands in the Indian market in 3-5 years from now.

"Shisheido has been in the Indian market since 2001. So far, we've been having very steady growth, but looking at the trajectory of growth that we expect in the Indian market in the years to come, we know that by 2025, according to Euromonitor, the market is going to be about 20 billion in size. And the segment in which we compete is expected to grow at a CAGR of about 15%. We believe that India is really at the point of inflection, where the consumers are ready," Nicole Tan, President & CEO, Shiseido APAC told CNBC-TV18.

Tan said that India is at the point of inflection where the consumers are ready for premium beauty brands like theirs given they’re also traveling more and the middle class upgrading as well.

"I think it puts India in a very exciting place in this point in time, and that's why we think that is the right moment to accelerate in India and what better time to bring the experience of full service to the Indian consumer," she added.

Shiseido entered the Indian market first in 2001 with its fragrance portfolio and since has expanded its presence through a tie up with Shoppers Stop and Sephora stores.

Apart from this first standalone store in Mumbai, for the brand Shiseido, the company is also opening another store in Bengaluru’s Mall of Asia this week.

In March this year, Shiseido Asia Pacific signed a distribution partnership with Global SS Beauty Brands Ltd, a subsidiary of Shoppers Stop, to officially launch Nars in India. This partnership is now taking shape with the first store set to open this month, and products being made available in the country.

The company, Tan says, plans to open 14 physical stores across the country in the first year of launch along with two e-commerce stores and plans to double its reach from a distribution perspective by next year.

"SS Beauty has an extensive network in terms of distribution, it also has a proven experience in terms of bringing international brands to this marketplace and succeeding with those brands. We believe that this partnership will enable us to bring the NARS brand to the market with the best experience that we can for consumers waiting for this brand in India," Tan added.