In the next three to four years, Belora Cosmetics hopes to grow to a Rs 500 crore brand.
Currently, 100 store-in-stores carry the brand, and another 100 are scheduled to launch in the following two months. Furthermore, it plans to increase that number to about 500 within the following year.
Delhi, India: Ainara Kaur, the company’s co-founder, told ETRetail that in the next three to four years, the makeup line Belora Cosmetics hopes to grow to an annual run rate of Rs 500 crore by penetrating the retail market as well as the online one.
By March 2022, the company’s annual revenue had reached Rs 15 crore. With this in mind, it announced it has exceeded an ARR of Rs 80 crore and aims to exceed an ARR of Rs 100 crore by the end of 2022 during the Christmas season. It was explained that the ARR was arrived at by multiplying the company’s monthly revenue by 12 (months).
It has 100 store-in-stores up and running now and aims to launch another 100 over the next two months. Further, it plans to increase that number to about 500 next year.
Based on information gleaned from sales of both brick-and-mortar and digital products, the company planned to launch a chain of premium retail outlets sometime in 2018. It forecasts that the offline market will account for 30–40% of overall income.
Kaur stated, “Within the next two years, we hope to be among India’s top five makeup companies.”
Kaur stated, “We don’t have any imminent plans of raising money since we are appropriately capitalised at present.
The company’s R&D is based in Europe, where all formulas are developed or approved in compliance with strict laws. According to the corporation, its wares are made in Europe and India and then exported to various markets.
Additionally, discussions are underway with Korean manufacturers to secure some of the company’s skincare items for release in 2019.
She discussed the company’s aspirations to expand internationally, saying that after Diwali, the company will begin selling its products in the United States market via Amazon. She said that the demand for natural cosmetics is strong in the global economy. So, the organisation is looking forward to expanding internationally over the next few years.
Originally, only customers in tier 1 cities could buy the beauty line’s wares, but today, roughly 30 per cent of the company’s sales come from customers in tier 2 and 3. About a third of its revenue also comes from loyal clients. Women in their twenties to fifties make up most of their current demographic.