agencyfaqs! News Bureau
NEW DELHI, October 13
Modi Revlon, a 76:24 joint venture between Modi Mundi Pharma and Revlon, US, has embarked on the volume-driven growth path in India with a vengeance. Close on the heels of the successful launch of its mini nail enamel earlier this year Modi Revlon is now extending the same strategy to other products in its portfolio. Having test-marketed LUPs (low unit packs) of lipsticks and foundation in the non-metros in August, the company has just finished stocking stores countrywide with the smaller versions these products at scaled-down prices.
The 'mini lip' (a small sized lipstick), which was launched last week in the metros, will retail at the new price of Rs 90 compared with Rs 160 for Superlustrous, the signature brand of Revlon. The volume of the new pack has been scaled down to 2.5 gm from the earlier 4.2 gm. It will have 31 shades including the largest selling ones like Wild Grape, Caramel Candy, Coffee Bean and Stone Edge.
Rationalising the price cuts and the launch of the LUPs, Meghna Modi, executive director of Modi Revlon said that this was a move "to reach out to as many Indian women as possible who are as contemporary in terms of fashion as any other across the world". And "as an international colour authority" that is the primary goal of Revlon in India.
The company officials point out that the experiment is driven by the company's in-house research which revealed that a woman never really finishes a pack of lipstick or a bottle of nail enamel. She prefers to use different colours to match her outfits, or might just get bored with the shade and would like to try out new ones. That is, if the price permits her to do so. The obvious conclusion was to give her smaller packs for lesser prices.
Besides, its colour cosmetics, Modi Revlon's Touch and Glow foundation pack too is now available in a smaller 20-ml size for Rs 69 compared with the earlier bigger size of 35 ml which was retailing at Rs 99. Company officials reiterate that "it is a water-based product and comes in five India-specific shades".
Its premium Colourstay brand too is now available at the reduced price of Rs 219 in contrast to the older price of Rs 249 while newer shades in the product have been introduced exclusively for the Indian market. The new India-specific shades are Charcoal, Mulberry, Chestnut, Blackcherry and Stone.
In keeping with its claim "Nobody does colour like Revlon"', the company is coming out with a new shade statement 'Celebration' which will predict the colours that should be worn this October and November. The theme is basically an uptake on the 'Go Chilly' statement that was launched in the UK and US market this August.
The strategy of slashing prices by merely lowering pack sizes has paid off in the case of Revlon earlier. From about 20,000-odd units of nail enamel that the company selling every month, sales have grown almost 10 times to about two lakh units a month with the launch of mini nail enamel, claims Modi.
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