US-based skincare firm Mitchell is looking at a Rs 100-crore turnover from the Indian market in the next three years as it plans to augment portfolio and stretch its presence to outside metro cities in the country.
“We are looking at a turnover of Rs 100 crore in the next three years. We have entered the Indian market with a portfolio of seven-eight products and will soon add more such as sunscreen and haircare products,” Director, Mitchell Fair and White, Sunita Ramnathkar told PTI.
According to a PTI report: Ramnathkar, who introduced Fem bleach brand in the Indian market and later sold it to homegrown FMCG major Dabur, said Mitchell’s products are made specifically for the Indian skin and priced in the range of Rs 580-1,700. These products are imported from the US in bulk and packaged in India.
“After selling Fem, I was in a non-compete agreement in India for five years. I, then, bought stake in Mitchell but had no plans to enter the Indian market. But, we developed a range of skin products made specifically for Indian skin using lotus seeds extracts,” she was quoted by PTI as saying.
Mitchell products, at present, are are sold through 150 premium multi-brand outlets in metro cities.
“We are looking at increasing it to 1,000 outlets by mid of the next financial year,” Ramnathkar was further quoted by PTI as saying.
Mitchell is also looking at exporting products made for Indian skin to neighbouring counties such as Nepal, Bhutan and Bangladesh.