NEW DELHI :
Ethic wear retailer W, a fashion brand from TCNS Clothing, has entered the beauty and cosmetics market under the name ‘W Beauty’.
The W Beauty line-up has over 100 stock keeping units offering products such as bronzers, highlighters, blush, lip-colours, apart from eye makeup, the retailer said in a statement on Wednesday.
The collection will be retailed at select W stores, the retailer’s own mono-brand website as well as online fashion retailer Myntra. Products are priced between Rs199 for nail enamels and ₹499 for products in the face, lip and eye category. The products, sourced from European cosmetic manufacturers, have been formulated for W.
W’s range of cosmetics is positioned on the vegan and cruelty-free plank.
In the past, the brand has forayed into accessories as well as footwear. The addition of makeup “will ensure that it meets the head-to-toe fashion needs of its consumer”, the retailer said.
“At W, we have always endeavoured to provide a complete wardrobe solution to the ever-evolving Indian woman. After successful expansion into footwear and accessories, the launch of W beauty is another step in that direction,” said Anant Daga, managing director, TCNS Clothing.
The move comes as newer entrants are riding on the growing demand for makeup and beauty products.
This holds true for several online-first beauty brands such as Sugar, Plum and other personal care brands such as Mamaearth. Meanwhile, retailers too, are always looking to extend their brand into other adjacent categories hoping to get incremental revenues. For instance, designer Masaba launched a beauty range in association with Nykaa.
Estimates by brokerage Motilal Oswal peg India’s beauty and personal care market to reach ₹2 trillion by 2025. Online, beauty and personal care products are growing at a faster clip, it said in a recent report. Growth would largely be driven by a higher propensity to shop online owing to increased smartphone penetration apart from a large millennial and Gen-Z population.
TCNS operates women’s fashion brands such as Aurelia, Wishful, and W. It operates through over 3,700 points of sales in India, apart from presence online. For the three months ended 30 September 2021, TCNS Clothing reported a revenue of Rs239.3 crore; profit after tax stood at Rs11 crore. It draws over 50% of its business from W.
Shares of TCNS Clothing were trading 3% higher on the BSE at ₹890.
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