In a huge leap to reach out to common people, the cosmetics retailer The Body Shop International plans to expand to 150 stores in two years from the current status of 65 stores, with a major push into India’s smaller cities.
The firm plans to open shops in the non-metro cities to reach a “much broader range of consumers”, said the Asia-Pacific managing director David Smith.
The UK-based company sells out of 25 stores in cities that include Aurangabad, Indore, Bhopal and Kanpur. This number would reach between 50 and 70 as it opens shops in cities such as Kochi, Patna and Dehradun, said Shriti Malhotra, the chief operating officer of the firm in India.
The Body Shop operates in the country through its franchisee New Delhi-based Quest Retail Pvt. Ltd and has no intention to convert the current business arrangement into a joint venture,though India allows up to five percent overseas ownership through the so-called single-brand retailing.
The retailer has cut prices of most products by around 30 percent in the recent past, enabling it to grow by about 40 percent a year, for the last three years.
India is among the top potential markets for the company in the Asia-Pacific, along with Japan, Australia and South Korea.