American cosmetics major Mary Kay is planning to set up centres, develop product portfolio, and train consultants in India. The company will invest around Rs 80 crore in the next five years for the purpose.
Mary Kay has introduced around 60 products designed specifically for the market through its India subsidiary, Mary Kay Pvt. Ltd. It also has a beauty centre in Delhi to train consultants. The products are priced at Rs 400-1,550.
“The company will invest 6-7 million dollars in the first year of operation. In terms of market share we are third in China, and anticipate generating the same success in India,” said KK Chua, president – Asia Pacific, Mary Kay.
Mary Kay has over 1.7 million independent beauty consultnts operating in more than 30 countries across the world, with a turnover of around 2.25 billion dollars in 2006.