Japanese cosmetics giant Shiseido announced on February 10 the launch of its New York-headquartered makeup brand Nars Cosmetics in India via a strategic distribution partnership agreement with Global SS Beauty Brands Limited, a subsidiary of Shoppers Stop Limited.
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Via the Nars India debut, Shiseido said it aims to strengthen its prestige skin beauty brand portfolio and accelerate growth in the Asia-Pacific region, a step with which the company hopes to satisfy the diverse beauty needs of Indian consumers.
Linking with Shoppers Stop, a retailer with a strong focus on beauty and with an extensive network and omnichannel presence, Shiseido will further expand its presence in India, it said.
With ‘Shift 2025 and Beyond’, a medium-term strategy centered on efforts over the next three years from 2023 to 2025, Shiseido added it plans to shift “to a position of offense” under a new management structure, ensuring further growth.
“To realise continuous growth and shift to a high-profit structure through active investment, the company will establish a foundation for business in promising future markets as part of core initiatives in Asia-Pacific region,” the company added.
Shiseido first entered the India market in 2001. Since then, India’s beauty market has evolved considerably, with sophisticated consumers who are actively adding global prestige brands to their beauty products selection.
Established in 1991, Shoppers Stop Limited is India’s premier retailer of fashion and beauty brands. Spread across 96 department stores, the company also operates eight premium home concept stores and 142 specialty beauty stores. Its omni-channel offering spans over 500 recognized and trusted brands.