NEW DELHI, Apr 10: Japanese beauty and cosmetics firm Kose today forayed into the Indian market with a new skincare brand Spawake and has lined up an investment of Rs 40 crore.
“We have developed Spawake brand especially for the Indian market. We have spent three years in developing products for Indian women. We want to provide modern beauty solutions and have plans to introduce more products going forward,” KOSE Corporation India Director and CEO Takashi Nomura told PTI.
He said the company has set aside a capital of Rs 40 crore for Indian market foray and majority of it will be utilised for promotional and marketing activities.
At present, Spawake products’ targeted at urban women will be made by a contract manufacturer, but the company may look at setting up a factory in future, he added.
When asked if the company is also considering entering in the men’s skincare market, Nomura said: “Men’s cosmetics market in India is big and has huge potential to grow. There is a possibility of us planning to get into men’s category in future.”
At present, Kose sells men’s products only in Japan and China.
The Spawake’s portfolio includes seven products variants under moisturising and whitening series and will be available in supermarkets, mainly in Delhi NCR, and also on online e-commerce portals. The company would scale up its distribution to other parts of the country.
The brand has appointed Bollywood actress Aditi Rao Hydari, as its brand ambassador.
KOSÉ Corporation is present in 25 countries including the US, Canada, Australia, Italy, UK, Germany, France, Spain, Belgium, Norway, Denmark, China, Taiwan, South Korea, Thailand and its total turnover in fiscal ending 2015 stood at Yen 200 billion. (PTI)
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