Mars Cosmetics, a beauty brand focused on accessibility and affordability, aims to double its revenue this fiscal year by broadening its online and offline presence, according to Rishabh Sethia, the company’s director.
The bootstrapped brand, which ended the last fiscal year with INR 200 crore in revenue, is aiming to reach INR 400 crore this fiscal year.
“This fiscal year, we aim to go deeper and broaden both our online as well as offline presence. We intend to increase the number of our kiosks from 10 to 30, however as a result of growing at such a rapid rate, we have several gaps in our overall trade strategy. Consequently, we will eliminate those gaps in terms of execution,” he explained.
The brand intends to allocate INR 3.5 crore towards launching 20 new kiosks in states such as Rajasthan, Uttar Pradesh, Gujarat, and West Bengal. Additionally, it currently maintains a presence in 7,000 general trade (GT) stores.
Continue Exploring: Delhi’s Mars Cosmetics expands footprint, opens second kiosk in Dwarka
“Aside from this, we are under-penetrated in South India as well as East India, so looking ahead we will be focusing more on expanding our retail footprint over there,” he went on to say.
The capital expenditure (CAPEX) required to establish one Mars Cosmetics kiosk, covering an area of 64 sq.ft, amounts to INR 15 lakh.
The brand, encompassing four categories – eyes, lips, face, and tools and accessories, boasts a selection of 1,000 SKUs.
“At present, we have no intentions of entering into new categories. Our focus remains steadfast on excelling within our current category. We still identify numerous areas for improvement within this segment,” he emphasized.
Presently, offline sources account for 55% of the brand’s revenue, with online channels contributing the remaining 45%.
Continue Exploring: Kylie Jenner’s Kylie Cosmetics launches in India in collaboration with House of Beauty
“Our direct-to-consumer (D2C) channel accounts for about 5–7% of online sales, with the remaining revenue being split fairly evenly throughout marketplaces. On the other hand, company-owned & company-operated kiosks account for 2-3% of our offline revenue, with GT accounting for 97–98% of it,” he said.
Currently, the brand’s D2C website has an average bucket size of INR 800, and the cost of acquiring a new customer is INR 350. It has a 22 percent client retention rate.
