Modi Revlon to cash in on premium skincare segment by 2007
New Delhi, Apr 26 (UNI) Looking at capturing 20 per cent market share of the premium skin care segment by 2007, cosmetic major Modi Revlon today launched its skin care range--Revlon Reveal to capitalise on the increasing demand for specialised skin care products.
''Modi Revlon has consolidated its position as a key player in the colour cosmetics market and is currently growing at a rate of 27 per cent annually (CAGR 2001-05). In line with our business strategy, our focus is to capitalize on the potential of the Rs 1500 crore skin care market in the country,'' Modi Revlon Chairman, President and CEO Umesh K Modi told reporters here.
Currently a market leader in the colour cosmetics segment, the company is looking at establishing itself as a major player in the skin care segment as well. The new 'Revlon Reveal'--an international range of anti-aging skin care products will be available at all leading departmental stores of the country, Mr Modi said.
The range is priced between Rs 300 to Rs 700, which is in line with the brand positioning and has a total of nine skin care products in its basket.
''Aiming to satisfy the discerning customer, we believe the new skin care range from the Modi Revlon group will firmly establish the company as a major player in the premium skin care segment,'' Modi Revlon Director Marketing Deepak Bhandari said.
With its own manufacturing facility in Guwahati, the cosmetic major has a total of 1500 stores across the country and has plans of increasing its stores to 5000 in the next three years.
Modi Revlon was the first international cosmetic brand to enter India in 1995.
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