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Kosé Makes Moves to Expand in India's Beauty Market
Posted: March 20, 2014
Kosé Corp. announced a decision to break into the beauty and cosmetics market in India in the future through a wholly owned subsidiary established on-site called Kosé Corporation India Pvt. Ltd., located in Mumbai.
India has the world’s second largest population (1.2 billion) after China, with a pyramid-type population structure consisting largely of younger people. Half of the population is 25 or below, and Kosé has great expectations for the future growth of this consumer market. Women’s fashion is diversifying, and preferences in cosmetics also are changing drastically. The market for them is expected to expand dramatically in the future, becoming the third-largest in Asia within the next few years, following Japan and China.
Kosé initially had plans to establish a joint venture with the pharmaceutical manufacturer Elder Pharmaceuticals Limited in order to break into the market in India. A deadline was set for the end of 2013 for specific discussions to be held on this matter, which, upon consideration, ended in a mutual agreement to cancel the basic agreement to establish the joint venture. Instead, a decision was made for Kosé to break into the market in India through a local subsidiary.
Kosé will continue its proactive cultivation of new overseas markets with great potential for growth by making use of advanced technology used in the development of cosmetics and in the field of skin research, as well as knowhow accumulated through involvement in numerous brand businesses and counseling sales over the years. The aim will be to boost Kose’s presence in the global market.