Shiseido Asia Pacific Pte. Ltd. on Thursday signed a strategic distribution partnership agreement with Global SS Beauty Brands Ltd, a subsidiary of department store chain Shoppers Stop, to expand its brand footprint in India.
Through the partnership, Japan’s Shiseido Group will officially launch its make-up brand, Nars Cosmetics in India in the second half of 2023. Nars sells colored cosmetics and face products globally.
To be sure, Shiseido sells popular skincare, make-up and fragrance products under the Shiseido, Nars, Drunk Elephant, Clé de Peau Beauté, Narciso Rodriguez, Issey Miyake and Serge Lutens brands. The retailer could stock more products as part of the distribution partnership agreement.
The beauty market in India has evolved “considerably” in the last few years with loyal consumers who are actively adding global brands to their collection of beauty products, said Nicole Tan, President and CEO, Shiseido Asia Pacific Pte. Ltd.
Shiseido has been present in India since 2001 and focuses on the premium segment.
The move comes as Shoppers Stop is trying to bolster its presence in the beauty market. Apart from selling a wide range of make-up and fragrances through its department stores, Shoppers Stop already operates standalone beauty stores for brands such as Mac, Bobby Brown, Estee Lauder, Clinique, Jo Malone, and Too Faced.
The move is set to intensify competition in India’s beauty market that sees the participation of large retailers such as Nykaa, Myntra, Sephora, and now Reliance-owned Tira.
“Beauty is a key strategic pillar for us. Our partnership with Shiseido Asia Pacific is in line with our commitment to bring to customers in India the best of Global brands,” said Venu Nair, Customer Care Associate, MD and CEO at Shoppers Stop.
Shoppers Stop’s wide network and strong omni-channel presence will serve as a springboard for Shiseido, and will allow Nars to launch in India with higher speed and efficiency, Nair added.
More Indian retailers are chasing foreign labels and beauty brands to stand-out in a highly competitive consumer market. Indian shoppers aren’t stopping either—young consumers, armed with their smartphones are fast consuming short-form content on beauty hacks and product reviews.
In an earlier interview with Mint, Nair had said that for Shoppers Stop, beauty as a category will grow at a pace ahead of the business.“Going forward, in terms of expansion (for beauty)—we are looking at opening 10 to 15 beauty stores every year. I think the opportunity is to do much more than that, but we’re being conservative at this point,” he said in a January interview.