The first physical store of the personalised beauty discovery and shopping app from the house of Tata Cliq is set to open at the Nexus Seawoods mall in Navi Mumbai
Mumbai: After launching its website, Tata Cliq Palette, the personalised beauty and discovery app from Tata Cliq by the Tata Group, will soon welcome its patrons at its first physical store in Mumbai, according to a senior official of the company.
“Our next store is expected to go live in the next 10 to 15 days. Our online platform Tata CLiQ Palette for national availability etc. went live about a month and a month half back,” Dharmarajan K, chief business officer, Tata Cliq Palette said while speaking as part of a panel discussion at the India D2C Summit held between June 07 – 08, 2023 in Mumbai.
Revealing the venue of the store, Nirzar Jain, chief leasing officer, Nexus Mall revealed that the first store will open at the Nexus Seawoods mall in Navi Mumbai, by the last week of June. Jain too was part of the same discussion.
While talking about Tata Cliq’ Palette’s online foray, Dharmarajan K, added, “The website has been live since a month. Some of the early indicators tell that the research we undertook to understand our consumers is working but it’s still very early.”
The brand recently onboarded Bollywood actor Kirti Sanon as its brand ambassador for its first Summer Stunner Sale that met with good response online.
Elaborating on the potential of the beauty category in India, he said, “All macro indicators of the industry points towards double digit growth for the next five to 10 years.”
According to him, India is one-fifth to one-tenth of some of the neighbouring countries like Malaysia in terms of consumption of beauty products. Compared to Western countries, India’s beauty consumption is almost in the region of 1/50th to 1/100th on the Purchasing Power Parity (PPP). “That sort of gives you an indication of headroom available for growth,” he said.
Even in the personal care category, we as a country, are highly skewed towards bath and body and hair vis-a-vis advanced countries that have moved towards categories like skin makeup and fragrances. “Both point towards large growth potential and a large market,” Dharmarajan added.
Speaking further on Tata Cliq Palette’s foray into the brick-and-mortar space, he said, “Beauty as a category is touch and feel and this isn’t going away,” he said, adding that this is true even in the most advanced or most penetrated internet-driven countries.
The Indian beauty and personal care category (BPC) has been heating up in recent years with growing interest from the likes of Reliance and Arvind Fashions and Shoppers Stop vying for a larger share. Reliance is entering the market with Tira, Shoppers Stop with SS Beauty and Arvind Fashions with Sephora. As of now Nykaa, is one of the biggest competitors with about 145 stores across the country as well as a robust online presence.
The BPC market size of India reached $26.3 billion in 2022, from $15 billion in 2021 according to research by IMARC Group. Going forward, the market is expected to reach $38.0 billion by 2028, exhibiting a growth rate of 6.45% during 2023-2028. Read more about the reason behind the category boom here.