Mary Kay to invest $9 mn in India in next 4 years
1 min read 24 Jan 2011, 12:33 PM ISTMary Kay to invest $9 mn in India in next 4 years
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New Delhi: Skin care and cosmetics company Mary Kay Cosmetics Pvt Ltd plans to invest $ 9 million in India over the next 3 to 4 years to boost its infrastructure, technology transfer and training, said K.K.Chua president, Asia Pacific, Mary Kay.
The Dallas based company entered the Indian Market in 2007 and has already invested $ 20 million in the country. The company’s global turnover in 2009 was $2.5 billion.
The company hopes to add more brand experience centers in India where customers can interact with its beauty consultants (sales personnel) for a touch and feel experience. At present it has one brand experience centre each in Delhi, Mumbai and Aizwal and will add 3-4 more such centres annually.
A premium brand, Mary Kay has put a five year freeze on its prices in the Indian market to compete with the major personal care and cosmetics majors here. “We would be looking to attract the aspirational consumers who seek value for money. As incomes are fast growing in India, we hope to enlarge our consumer base. Our products are in the masstige (mass-prestige) range and we will continue to expand all our category portfolios with unique products for our Indian consumers," Chua said.
Mary Kay cosmetics in India are contract-manufactured at factories in Himachal Pradesh and Uttranchal.
In 2009-2010, the company registered a year-on-year growth of 45% in India.
Chua also announced the launch of the company’s reward system in India called the Career Car Program, where its consultants with outstanding performance will be able to earn a Mary Kay Branded Swift DZire car. This is parallel to the company’s incentive program in the US where consultants can get a Pink Cadillac based on performance.
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