Comments
Vellvette Lifestyle Pvt Ltd, which owns and operates the beauty brand SUGAR Cosmetics, has entered into a joint venture with actor Kareena Kapoor Khan for its Korean skincare brand Quench Botanics.
This comes when Korean beauty products are gaining strong traction in the country.
“Quench Botanics is a 100 per cent made-in-Korea natural brand designed for Indian skin. We have set up a joint venture partnership with Kareen Kapoor Khan. As a company, we will be able to bring in the expertise around distribution and content production. Kareena brings her passion for the category and will help in educating consumers. Indian consumers are ready to embark on a journey to take better care of their skin and education is very important to build a credible brand. So she is coming onboard as a co-owner and strategic investor,” Vineeta Singh, Co-Founder & CEO of SUGAR Cosmetics, told businessline.
Quench Botanics, which was launched last year, offers a range of Korean skincare products.“We want to collaboratively build this into a Rs 100 crore net revenue brand over the next 12 months,” Singh added.
While the overall skincare industry in India is pegged at about Rs 12,000 crore, Korean beauty products still comprise a small segment. But Indian consumers are increasingly warming up to Korean beauty products and hence the segment is expected to witness significant growth.
“Korean beauty products are becoming popular across the world. In India, the challenge has been high price points. Our aim is to offer the proposition of high quality Korean products at affordable price points that are efficacious for Indian consumers,” she explained.
The brand is being sold through over 1,000 outlets, which includes specialist retailers. It is also available at e-commerce marketplaces and the brand’s own D2C site. “We will rapidly scale up the brand’s presence at retail outlets over the next 12-18 months,” Singh added.
The beauty and personal care industry is growing at a strong clip and is projected to grow at a CAGR of 10 per cent till 2027. Celebrities are increasingly getting involved in this segment. They are either launching their own brands or becoming strategic investors in D2C brands that are rapidly scaling up.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.