The omnichannel brand hopes to open about 25 locations during the current fiscal year and run up to 65 by 2026.
Bengaluru: According to a senior company official who spoke to IndiaRetailing, New Delhi-based cosmetics brand Mars Cosmetics hopes to generate Rs 350 crore in revenue by the end of the fiscal year (FY) 2025.
The cosmetics retailer made almost Rs 200 crore in revenue in FY24.
“The last fiscal year saw the brand develop significantly, and we are currently on a strong growth trajectory. We have a lot of greenfield areas to go into as a young brand, according to Rishabh Sethia, director of the eight-year-old company.
Manoj Sethia, Rishabh’s father, launched Mars Cosmetics as an online direct-to-consumer (D2C) company in 2016. Sethia has been in the offline wholesale cosmetics retailing business since 2013.
In less than a year, it opened its first physical location in 2023 at the V3S Mall in Delhi. Since then, it has launched 14 exclusive brand locations, mostly in North India.
“We’ll have about 20 stores by the end of August. We are optimistic that we will establish between 30 and 35 outlets by the end of the fiscal year, as we have committed to adding 20 to 25 new stores this year,” Sethia said.
“Our long-term objective is to have at least 65 to 66 outlets spread throughout India by 2026,” he continued.
There are plans to open outlets in Bengaluru, Mumbai, Vadodara, and Indore, and there are even plans to open a few in East India.
Mars Cosmetics Director Rishabh Sethia
As of right now, the company only has plans for kiosks because those offer enough room for its requirements. In addition, the retailer is looking at opening shop-in-shops (SIS) with large-format merchants and is investigating potential at airports.
We are almost done settling the specifics of our shop-in-shop agreements that we are discussing with our contemporary trade partners. We intend to open at least 150–200 doors for exclusive product stores in the current commerce, according to Sethia.
In addition, the business sells its products online at marscosmetics.in and via e-commerce sites like Amazon, Myntra, Nykaa, Tira, Meesho, Purplle, and Flipkart. Fast commerce delivery is also made possible by Zepto and Blinkit.
The brand is concentrating on growing its retail base, especially in underserved areas like South and East India, where it is currently present in 7,000 general trade (GT) outlets.
“We want our items to be available in a wide geographic area. Our goal in GT is to grow to over 10,000 stores. For these expansions, we already have our operations set up,” Sethia continued.
Although some people are buying products from the general trade market and selling them in Dubai, the company is not currently present in the worldwide market.
Without any natural encouragement from us, one of our lip crayons—which is a bestseller on Amazon India—made it into the top 20 bestsellers on Amazon Dubai and is now being offered for three times the price in India. We definitely intend to grow internationally in the future,” he stated.
Targeting consumers between the ages of 18 and 35, the omnichannel brand presently offers over 1,100 stockkeeping units (SKUs) in categories like eyes, lips, face, and tools and accessories.
Since its founding, the company has operated on a shoestring, serving between 15 and 20 million customers, with a 22% customer retention rate on its direct-to-consumer website.
