Tata Group announced today that the multi-billion dollar business conglomerate is to enter multi-billion dollar beauty industry in near future.

Tata Group India is all set to enter into the billion-dollar beauty industry. Excitingly, the company is also planning to launch 20 ‘Beauty Tech’ Stores.

To attract a larger section of the public, the stores will be mostly in big cities. This will provide customers with a wide range of services including premium beauty and cosmetic products.

Digital skin tests, Virtual Makeup kiosks and recommendations of various cosmetic products are in the list of services going to be available for customers.

This expansion strategy of companies can lead to multiple benefits. From marketing to Capital increment, everything gets resolved.

Last month, Nykaa initiated for gulf expansion.

Rivals and Billion-Dollar Beauty Industry

Undoubtedly, Tata leads in the automobile sector by being the best manufacturer of vehicles. And to multiply its branches, The Tata India Group also eyes the 16 billion-dollar beauty industry and personal care hub.

The company rivals homegrown beauty and cosmetics company, Nykaa. Along with Nykaa, LVMH’S Sephora also lands as the rival of Tata’s plan to enter the billion-dollar beauty industry.
The company points its target market towards ‘beauty enthusiasts’ in India. These ‘beauty enthusiasts’ are aged between 18 and 45 years and are fond of buying foreign brands.

Tata CliQ and China’s Beauty Market

The news of Tata’s entry into the beauty and personal care segment follows the launch of the Tata CliQ Palette. Tata CliQ Palette is a beauty shopping app.

On the other hand, beauty giant like Nykaa is in the race to avail foreign brands to local consumers. The company plans to have Tata CliQ Palette branding. Furthermore, 70% of the stores will comprise make-up and skin care products.

In short, Tata group India is in talks with several other companies to supply them with exclusive beauty products for the new stores.

In comparison to China, India’s $16 billion beauty and personal care market are far smaller. China estimates around $92 billion beauty and personal care market. Although. few market research analysts predict a 7% average growth in India over the next few years.

Featured Image Credit

Apurv Panigrahi