Indian beauty brand Colorbar targets the US and Middle East markets
Brands that cater to affluent Indian consumers have largely withstood the cost-of-living-driven slowdown in spending, as wealthier shoppers continue to invest in luxuries and personal care.
Colorbar expects to reach revenue exceeding 10 billion rupees (approximately $117 million) in the financial year beginning April 1. Growth strategies include updated packaging and continued investment in store enhancements, Modi told Reuters.
The company, currently valued between 25 billion and 35 billion rupees, intends to use proceeds from the IPO to strengthen its skincare and fragrance segments and pursue acquisitions, including international beauty brands.
Shares of comparable listed beauty players like Nykaa and Honasa Consumer have struggled since debuting, as analysts question their profitability amid rising market competition.
Colorbar, which roughly broke even last year, also faces intense competition. Its rivals include local independent labels such as Sugar Cosmetics and MyGlamm, as well as global heavyweights like Estée Lauder 's Bobbi Brown and MAC.
Established two decades ago, Colorbar offers a wide range of cosmetics—from lipsticks and foundations to skincare products such as serums and moisturizers.
The brand operates over 100 exclusive outlets and distributes through over 1,200 multibrand retailers, including major chains like Shoppers Stop and Lifestyle. It also plans to open an additional 15 to 20 stores this fiscal year.
Looking ahead, Modi said the company aims to generate up to 25% of its revenue from exports within the next five years by expanding in markets such as the United States and the Middle East.
($1 = 85.4900 Indian rupees)
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