 "Indian market too big to ignore: Beauty and make-up brand Laura Mercier")
Beauty and make-up brand Laura Mercier, which is part of Orveon Global, sees India as a crucial market, said an official.
“To launch a brand in India is not about plug and placings. You need to do it strategically because the size of the market is important and you cannot fail,” Marco Ficarelli, chief revenue officer, international, at Orveon Global, told Business Standard.
Laura Mercier, one of the three luxury brands housed by Orveon Global (owned by global private equity player Advent International), entered the Indian market last year and started selling online through beauty and personal care marketplace, Tira. Orevon Global also has bareMinerals and Buxom.
Laura Mercier plans to expand in India via the omni-channel and expects a halfway split in its revenue coming from online and offline.
The brand unveiled its first store in Mumbai and will open stores in other metro cities as well during the year. The store size will range from 45 sq metres to 80 sq m. Its second store is expected to be open in Bengaluru.
Laura Mercier will continue to remain a premium brand in India, where it made an entry with Baccarose Perfumes and Beauty Products.
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While the brand did not state a revenue target, Ficarelli said, “Out targets are extremely ambitious, but are dynamic. This means that we are more focused on our launch than diluting the brand image and the launch efficacy just to make sales.”
On how the brand has fared so far by only selling online, Ficarelli said it has developed a strong awareness of the Indian market. It will not limit its offerings in the Indian market but launch its entire range of products, he added.