An incredible journey of Samir Modi & Colorbar
Established nearly 15 years ago by Samir Modi, Colorbar commands a formidable presence in colour cosmetics category in India with a premium positioning and cutting edge formulations. As Colorbar goes rolling into 2019, complete with a new logo designed in Paris, we catch up with Samir Modi, Managing Director, to better understand its new direction and hues. By Ritoo Jhha
The Brand Today
It has been 15 years since I started the initiative, we are now No. 3 in the industry. We are also known for introducing the largest number of SKUs in a year, and we have the largest number of innovations in the country as far as India is concerned. And we are introducing close to about 300 SKUs every year. We are currently undergoing new packaging, colour and logo change. We have also have signed up a brand ambassador – name to be revealed soon! As a business, we are very gung ho about the beauty industry.
Number of POS
We have 86 stand-alone stores and 1,178 shop-in-shops.
Change in Focus
We are changing the focus of what we want to be. So we want to be in the business of making people feel good whilst we also happen to be in the business of makeup. My main concern, therefore, becomes what a woman or a man feels when they enter our store.
- Our new look and feel that echoes our new brand story, is being rolled out now – put together by a design company from Paris that designs for Hermes and Cartier.
- In the next 4-6 months, our entire look and feel and brand approach to the consumer will evolve to a more prestige level.
- Colorbar can compare to the prestige positioning of a Tom Ford but at affordable prices. Formulations are as good as luxury wherein premiumising the current look and feel. We don’t make anything ourselves but we don’t buy anything that the top luxury brands are not making.
- Our products either carry a completely new innovation or they are products that are comparable to any established luxury brand.
Nail Colour Revolution
We have the largest number of shades in the world. In our own stores, we have 500 plus shades. Manufactured in India by the No. 1 international nail polish manufacturer, ours is the safest and the most advanced formulation out there.
The 1001 Nail Lacquer Range has been formulated with patented Sun Genius formula for extended wear with UV hardening qualities, with keratin and calcium for nail strength, sweet almond oil for nourishment and what we refer to as the 7-Free Formula – Free from Toluene, Formaldehyde, DBP, Formaldehyde Resin, Xylene, Camphor and Parabens. It is 100% vegetarian and cruelty-free and 70% halal compliant as well.
The Sun Prodigy formula is not available with any other brand and besides, the products are EU, US Japan FDA approved. Colorbar’s 1001 Nail Lacquer Range represents the largest global launch by an individual brand and establishes Colorbar as the singular owner of the largest portfolio of Nail Lacquer.
Skincare
Skincare is currently 10 percent of our business, we are further expanding that – preparing to launch a men’s line in skincare. The range is inspired by the innovative and impactful formulations from K Beauty comprising of 6 SKUs.
Innovations
We thrive on innovations. For instance, our Matt Jumbo Pencils – 21 colours in one go, eyeliner pencils (we sell one pencil every second anywhere in the world), shimmer brick of Bobbi Brown that’s the same as our shimmer bar, which is a highlighter cum bronzer. It’s an amazing product for glow and highlighting. The metallic flip (we rub it on the lips it becomes a glitter), nail polishes that harden with sun / UV exposure, and many others.
Distribution
We are present across all tier 1 and 2 towns and online on Nykaa, Amazon, Flipkart, Myntra and our own website. In the next 3 to 5 years, we aim to have 250 company-owned stores and a selective shop in shops. All our stores are beauty adviser manned who are trained almost like make-up artists, as we don’t want to do non-assisted selling. And even with the smallest footprint, we are No. 3. We want to maintain that. Our BAs are all trained internally and it’s all about continual education. Internationally, we have a small presence in Abu Dhabi and Dubai but once new branding is in place, we will start expanding internationally.
2019 and beyond
We want to be a global brand going forward from 2019. In the next 5 years, we should be counted amongst the top 5 global brands. We will be bringing a major shift in the makeup industry – in the way make-up is done, the way it is sold.