Revlon’s plans to open some 80 exclusive outlets in India over the course of next year will significantly improve its global market share, according to a report published by the Trefis team for Nasdaq.
With the US$10 billion Indian cosmetics market expected to grow at a CAGR of 10 percent over the next three years, reaching US$17 billion by 2020, Revlon’s expansion is timely. The brand is also primed to benefit from the meteoric growth predicted for the Indian color cosmetics market; some analysts are forecasting 20 percent growth by 2020, pushing Revlon’s global market share of the make-up market up from 2.8 percent to 4.2 percent.
According to Trefis, Revlon has been slow to expand its business in emerging markets, despite being the first international make-up brand to launch in India. Some 50 percent of the company’s revenues come from the US market.