Japanese beauty conglomerate Shiseido is launching makeup brand Nars Cosmetics into India under a strategic distribution agreement with Global SS Beauty Brands.
The launch of Nars in India is part of Shiseido’s strategy to strengthen its brand portfolio and accelerate growth in Asia Pacific.
The local partner is a subsidairy of Shoppers Stop, India’s premium fashion and beauty retailer. Founded in 1991, the company operates eight upmarket home concept stores and 142 specialty beauty stores.
“With Shoppers Stop’s strong focus on beauty and their extensive network and omnichannel presence, Shiseido will further expand its presence in India,” the company said.
The company has recently recorded a 5.7 per cent growth in revenue for the year ended December 31, generating about $8.1 billion while net profit dropping 27.1 per cent to $260.6 million. Net sales in Japan and China were down 8.2 per cent and 6 per cent year on year respectively to $1.8 billion and $1.9 billion.
The group sold three makeup brands – BareMinerals, Buxom and Laura Mercier – to AI Beauty Holding for $700 million in 2021.