Tata Group to open 20 'beauty tech' outlets, in talks with foreign brands
According to a company document and a person familiar with its strategy, India's Tata Group is planning to open at least 20 "beauty tech" stores where it will use virtual makeup kiosks and digital skin tests to convince young, wealthy customers to buy high-end cosmetic products.
The move pits LVMH's Sephora and domestic rival Nykaa against Tata, whose businesses range from jewellery to automobiles, for a piece of the rapidly expanding US$ 16 billion beauty and personal care market in the second-most populous nation on earth.
The document cites The Honest Company, Ellis Brooklyn, and Gallinee as potential partners and describes Tata's target market as an "Indian beauty lover" between the ages of 18 and 45 who enjoys purchasing Western brands like Estee Lauder's M.A.C. and Bobbi Brown. The individual familiar with the idea, who did not mention any specific brands, claimed that Tata is in discussions with more than two dozen businesses to supply exclusive merchandise to the new stores.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.