Tatas back in beauty biz 18 yrs after Lakme exit
MUMBAI: After aviation, it’s cosmetics. India’s largest conglomerate, the Tata Group, is re-entering businesses it exited years ago. The $100-billion plus corporate house, which created the Lakme brand, has returned to cosmetics with Studiowest.
Group entity Trent has started retailing the Studiowest range of makeup products at its Westside departmental stores to boost its earnings and to benefit from growing consumerism in Asia’s third-largest economy.
In recent years, the teato-telecom enterprise re-entered aviation with AirAsia and Vistara as well as pharmaceuticals with Advinus Therapeutics.
“Westside has always had its own range of labels, be it womenswear and so on. But there have been a few areas where we didn’t have a direct presence, for instance, cosmetics,” said a Tata executive, adding, “So, we wanted to have our own range of cosmetics. We do retail third party brands, but we wanted to explore whether we can have our own label.”
The name Studiowest is in line with the already existing food brand, Gourmet West. More than 80% of the items sold at the 86 Westside stores are in-house labels, with the biggest revenue contributor being womenswear.
Read full article: TOI
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