- 02 Mar 2023
- ICICIdirect Research
SHOPPERS STOP SIGNS FRANCHISE AGREEMENT WITH JAPANESE PREMIUM BEAUTY BRAND 'NARS'
SHOPERSTOP - 523 Change: 0.95 (0.18 %)News: As per media reports, Shoppers Stop has signed up a franchisee agreement with Japan’s premium cosmetics brand Nars Cosmetics. Shoppers Stop will also open Nars-branded boutiques across India
Views: Many reputed names like Tata and Reliance Retail along with Shoppers Stop are expanding aggressively in India’s rapidly growing beauty and cosmetics market. Shoppers Stop is also expanding its beauty and Cosmetics portfolio. Shoppers Stop plans to open 15-20 beauty and cosmetics stores of Estee Lauder and its SS Beauty format every year. The company is aiming to scale up the business to | 500 crore revenues by FY25. The management indicated that gross margin in the beauty distribution business was between 32% and 35% Addition of Nars brand would enhance the beauty brand portfolio of Shoppers Stop and aid in providing thrust to the beauty segment revenues.
Impact: Neutral