With the launch of the Revlon Mini Nail Enamel range, Modi Revlon has expanded its market base from the premium segment to the mid-market segment of colour cosmetics.
Citing ORG source, Meghna Modi, executive director -- Modi Revlon, in a press conference said, "Out of the total Rs 120-crore colour cosmetic market, five per cent constitutes premium segment, with the prices ranging from Rs 75 and above. We have a market share of 80 per cent in this premium market segment."
The launch of small pack of eight ml bottle at Rs 55 is aimed to penetrate the middle mass segment at a price range between Rs 30 to Rs 75, which constitutes 19 per cent of the total colour cosmetics market.
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