New Delhi: After launching apparel earlier this month, Femina FLAUNT, the retail arm of media company Bennett, Coleman and Co. Ltd (BCCL), is now eyeing entry into the fast-growing personal care products and beauty services space. The products and services will cater to women and have a premium positioning.

In the personal care segment, the company will look at skin care, fragrances and colour cosmetics for women, said Sandeep Dahiya, director and business head (brand extensions) at BCCL.

The company is looking for partners for the category extensions. “We are yet to finalise our partners and specifics for these categories," he added.

The personal care products market in India was estimated at around $10 billion as of March 2015, according to a study by consulting firm AT Kearney.

The beauty services market in India, which is led by chains like Shahnaz Husain Signature Salon, Javed Habib HairXpresso Salon, VLCC, Enrich and Marico Ltd-owned Kaya, was worth around 2,000 crore as of 2010, growing at around 25% annually, according to a report by Technopak.

BCCL, the publisher of newspapers like The Times of India and The Economic Times, formed the retail entity Femina FLAUNT in partnership with fashion retailer Shoppers Stop Ltd earlier this month.

BCCL has licensed Shoppers Stop to design, develop and retail the brand Femina FLAUNT. The brand is positioned to target “modern and progressive" women aged 25 years to 40 years and will be in the premium category. Initially, Femina FLAUNT products will be available in 20 Shoppers Stop stores in the top eight cities.

Over the next 18-24 months, Dahiya said, the company will increase product offerings in the existing categories—apparel, footwear, bags and accessories.

“Within the existing categories, we are looking to expand in sub-categories like innerwear, eyewear, wrist-wear and lounge wear," he added.

The women’s wear market in India is estimated at 78,500 crore, according to a 2012 report by Technopak.

“Over the next three years, we’ll be present across 50 stores," said Dahiya.

The Femina FLAUNT stores will be shop-in-shops within Shoppers Stop stores and will have about 300-400 sq. ft of exclusive space. The company has set a target of 100 crore in revenue from Femina FLAUNT in the next 4-5 years, said Dahiya.

“With Shoppers Stop as a partner, we are confident of stability, sustainability and scalability of our brand. The designs are primarily by our team, while sales and marketing is taken care of by Shoppers Stop. Once we stabilise the present retailing model, we may look at online as an alternative channel in future," said Dahiya.