Germany-based Innovative Cosmetic owned cosmetic brand BeYu brands has teamed up with Elder Health Care,an associate company of Elder Pharmaceuticals. As a result of the partnership, the latter has become an exclusive distributors for the former in India.
Describing the potential of the Indian market, Sascha Reinhard , managing partner, Innovative Cosmetic, said, “This is the right time for us to enter the Indian market as the market is expected to grow immensely in the next 5 to 10 yrs. In spite of the global recession, India has been doing well.”
About the partnership, Reinhard added, “Elder Health Care is the right partner for us since it is a family run business like ours and has a huge market presence by now. Also, the norms and regulations for pharmaceutical products are quite similar to that of cosmetics around the world.”
Operating through shop in shop retail formats, BeYu will introduce 120-130 SKUs to begin with and inflate the portfolio to 500 SKUs step by step. The eye ware and bags from its lifestyle range might also be made available in the long run but the core focus at present is going to be cosmetics. The brand seeks to position itself at the mid segment being premium yet affordable, with the catch-line Be yourself.
The target age group, as the company says, is 20-40 years that would include young college goers to the upmarket business women. The price would between Rs 500 to Rs 1200.
On the available manpower, G Ajay, general manager, modern trade, Elder Health Care, disclosed, “Our sales people will be given adequate product training so that they are able to offer the right solutions for specific consumer requirements. It will be a consultative approach quite different from the mass selling tactics. Our aim is to ensure that the consumer is satisfied, recommends the brand to others and comes back for more.”
– Sayanti Banerjee, Mumbai Bureau