Published - 17-April-2019
Bennett, Coleman & Co. Ltd. has announced its plans to enter the beauty segment with its brand Femina.
The company has formed a new division (Times Lifestyle Enterprise) that will launch Femina Flaunt into the beauty salon segment.
Sandeep Dahiya (Director – Brand Extensions, BCCL) has been appointed the CEO of the new entity, and would be responsible for exploring and driving growth for the venture, while continuing to lead Brand Extensions at BCCL.
Further, the company has roped in Dinesh Bhat (formerly with Unilever India) as the COO for the venture. Bhat will report into Dahiya. The company plans to open its first unisex COCO (company-owned, company-operated) Studio Salon in Mumbai within the first half of 2019.
Announcing the development, Vineet Jain, Managing Director – the Times Group, said, “Our entry into the beauty segment is in line with the group’s philosophy of continuing to invest in newer and future growth opportunities. We have many legacy brands within the group, like Femina, Filmfare and Miss India, amongst others, and this venture would explore relevant, sustainable and scalable business models around these brands in the retail and lifestyle space.”
Speaking about the venture, Dahiya said, “Beauty is an exciting and a rapidly growing category in India and we’re confident of making a significant impact in this category through differentiated service offering, personalised consumer engagement, and best-in-class brand alliances.”
He further added, “The venture will follow a hybrid model of growth in this segment, starting with COCO salons, and simultaneously expanding through a robust franchise programme to create a footprint of over 100 salons in the first 5 years.”
The entry in the salon segment follows Femina Flaunt’s successful foray into the consumer products space with Shoppers Stop in 2015, across core fashion categories.For more updates, subscribe to exchange4media's WhatsApp Channel- https://bit.ly/2QUdLCK