Jonathan Price, Managing Director (Asia-Pacific) for The Body Shop flew into the capital for a big media event at the Claridges hotel on April 8. This was the biggest event since the brand was launched three years ago which came as a celebration and an announcement.
The cause for celebration? The pace of growth for the brand, which has opened its 35th store in India this April in less than three years. “We plan to open 30 more stores this calendar year,” says Jonathan Price, a dynamic leader for the brand. “This includes new openings in smaller cities all over the country.”
The price is right!
The announcement: Even more interesting for Indian consumers! A 35 percent reduction in price on 600 products. Previously, prices were reduced on 200 products in March 2009. “We are responding to the feedback from the market,” he comments. This price decrease is specific to India and makes product prices competitive to stores in other countries and in some cases, better. Termed `Body Shop Loves you,` the campaign has been flagged off across the country, with actress Zarine Khan addressing the media.
The enthusiasm for growth is shared by Sameer Prasad, COO, Planet Retail Holdings, their franchisee partner in India. “We plan to target sales of Rs 100 crore by the next financial year,” he says. The Body Shop earned an annual revenue of over 1 billion euro last year across 2,500 stores.