Coty Poised to Accelerate Its Footprint in India
Appoints Business Development Director, Sets Up Team and Inks New Strategic Distribution Agreement with House of Beauty
Global Cosmetic giant Coty Inc. (NYSE: COTY) (“Coty”), has recently announced bold engagement with the Indian beauty market, by firstly appointing Rizwan Mulla as the Business Development Director, India with creation of a new team and office premises and second, also signed a strategic agreement with India’s leading distribution & marketing company, House of Beauty. Mulla & his team are expected to build and further consumer relationships, reinforce distribution across Prestige and Consumer Beauty divisions and continually initiate robust revenue streams as they move forward.
Coty has been a leading fragrance (No. 1 as per Mordor Intelligence Report 2022) company in India already and with the current growth projections based on consumer awareness and socio-economic mobility that has spurred growth in demand, the company has taken this major stride in India.
Kristina Strunz, Managing Director, Coty Southeast Asia and India commented: “Over the past five years, we have witnessed the meteoric rise of Prestige Beauty in India and today it represents one of the key long-term growth opportunities in Asia for Coty. The strategic investment in Coty’s operations in India underlines the company’s ambition to solidify our already strong presence in the sizeable Indian beauty market. We are excited to welcome Rizwan and the team as we gear up to accelerate growth across the luxury and everyday beauty segments in this dynamic and
Coty India grew +65% in 2023 and continues to be bullish, given its forthcoming launches by star fragrance brands from its portfolio, for instance, the unveiling of Burberry Beauty’s new niche fragrance, Burberry Goddess and Her Elixir; the new release of Gucci Flora Magnolia; and an exclusive lifestyle partnership for Davidoff. In the Consumer Beauty side of business, Coty is to roll out its latest MaxFactor campaign and a new range from Adidas.
Hence the key prestige brands that have been well received on the Indian market like Gucci, Burberry & Davidoff to name a few and the consumer brands like MaxFactor & Rimmel are likely to drive the growth trajectory of the company in the foreseeable future.
Another key move by Coty has been the strategic distribution & marketing tie up with House of Beauty expressed in a joint signing of agreement by Coty’s Kristina Strunz & Shriti Malhotra, Group CEO Quest Retail – House of Beauty.
This contract covers the launch of Kylie Cosmetics in India and the development of a retail marketing programme to engage and inspire the millions of Kylie Jenner fans across the country.
The early adoption of makeup among teens and those entering the job market have also been key drivers in the acceleration of the beauty and personal care market in India. Growing from US$12.3 billion in 2018 to US$15.6 billion in 2022, India’s beauty market is expected to reach US$17.4 billion by 2025.
Strunz added: “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 over the coming months. Kylie Cosmetics represents a tremendous opportunity to drive the Coty business forward in India, as the brand appeals to a modern shopper 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 are confident that this winning formula will resonate well with beauty shoppers in India.”
Shriti Malhotra, Group CEO, Quest Retail – House of Beauty furtheradded: “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, robust partnerships and extensive omnichannel expertise. There is growing demand across India for quality make-up, best-in-class innovation and immersive marketing activations from international beauty lifestyle brands. Together with Coty, we look forward to strengthening our national portfolio and footprint, and hope to accelerate the rise of premium beauty in South Asia by making Kylie Cosmetics shine in India.”