Within 10 years of its inception, the brand reached over 25,500 retail touchpoints across more than 550 cities in India
Bengaluru: The brainchild of brother duo Mohit and Amit Goyal, Swiss Beauty arose from their observation of an untapped niche within the Indian makeup industry. They identified a gap where consumers faced a choice between excessively priced luxury brands or affordable yet lower-quality products.
To fill the gap, they founded Swiss Beauty in 2013, and within 10 years, the Delhi-based brand expanded to encompass over 25,500 retail touchpoints across more than 550 cities in India. Its products are also available in e-commerce marketplaces such as Amazon, Nykaa, Myntra, Flipkart, Purplle and Reliance Retail’s Tira.
The offline-first company has over 1,500 active stock keeping units (SKUs) at the moment with category segregation across lip, eye, face, nails, skin and accessories.
“We’ve maintained a healthy balance between online and offline channels. At the same time, we are witnessing progressive year over year (YoY) growth across channels wherein 60% of our business is offline and the rest online,” said Saahil Nair, chief executive officer of Swiss Beauty.
Market demand
Swiss Beauty has observed that the top revenue contributor has been the face category, while recently, the lip category has been experiencing the highest demand, supported by new launches. The company sells one lip product every 3.52 seconds.
From a regional standpoint, the beauty retailer initially garnered its consumer base from the North. “While we have been the queen of the North since inception, we are seeing high demand coming from South and East markets. Also, tier 2 cities are showing a lot of promise due to the high level of awareness and our reach through digital media,” said Nayar.
Connecting with consumers
“When it comes to an omnichannel brand like ours, we recognize the importance of engaging diverse consumer segments through tailored mediums such as social media platforms, exclusive outlets and customer relationship management channels, ensuring reach and meaningful interaction with each target audience,” said Nayar
The company uses social media to set the brand narrative and brand tonality, as well as to convey product narrative, and foster consumer engagement and retention with a goal to add value to the consumer’s time spent on the brand’s handle.
Swiss Beauty also uses customer relationship management (CRM) channels like WhatsApp, providing a more direct approach for brands focused on information dissemination and sales.
“In 2024, we are shifting away from a transactional mindset towards fostering brand affinity and cultivating long-term customer loyalty. It can only happen when the customer looks at the brand as a friend. WhatsApp will be used to get a deeper understanding of the customers and to help them navigate through the purchases,” added Nayar.
Goals ahead
“For 2024-25, our strategic focus is centered around three key aspects, including brand building, brand expansion and building customer loyalty,” said Nayar.
In terms of retail expansion, it plans to enter an additional 147 beauty-assisted outlets across 11 new cities, which are Ahmedabad, Surat, Mumbai, Delhi, Chennai, Chandigarh, Punjab, Hyderabad, Lucknow, Kolkata and Bengaluru.
Swiss Beauty also aims to have 24 exclusive brand outlets (EBOs) in fiscal year (FY) 2025. “We are geared up to go stronger on expanding our retail touchpoints in the next 12 months, adding new locations, reaching to 30,000 retail touchpoints,” he added.
The company achieved a two-fold growth in expansion in FY24 and has witnessed a massive jump in revenue as compared to the previous year.
“This momentum has been driven by increased consumer demand, new launches, expansion across modern trade partnerships, accelerated launch of our beauty-assisted outlet network, and increasing share from online channels,” he said.
The cosmetic brand projects a 1.5-fold increase in numbers and aims to achieve a revenue of Rs 600 crore by the end of 2024. “Over the next two to three years, Swiss Beauty is poised to evolve into a Rs 1,000 crore brand,” added Nayar.
