Kiko Milano, the Italian cosmetic brand has finally entered the Indian market this week. The brand aims at opening around 45 stores across the country over the next 3 years. Percassi Group-Company, having collaborated with the DLF Brands to improve its retail, is also planning to boost their sales via the e-commerce medium.
According to what Mark Koprowski, the Director of Percassi Group International has told the media, the company is set to open 4 stores in the first year, and consequently, 20 new stores in each of following 2 years. The company is planning on targeting the top 8 developed metro cities’ markets before moving on to the tier-II places.
Kiko Milano, having opened their first retail store at the DLF mall, Noida, is keeping its range of products as affordable for the Indian middle class community. Koprowski claims to have done an extensive research of the Indian market before stepping into it. “Our price would be competing with the local players’ one side but would also offer professional products which would be slightly above that,” he said.
Kiko Milano’s products are expected to be from the “masstige” segment, which are relatively cheaper in price, produced in mass quantities and are marketed as luxurious goods. The company’s target customers will be the growing number of the working middle class women of the country.
According to him, India’s current beauty market is evaluated to be around USD 1 billion, which is still growing at a rather impressive annual growth rate of 18 percent.
September 17, 2016