17 May 2024
Colorbar, a leading cosmetics brand, is planning to go public in three years based on the boost in the Indian beauty and personal care market. The company will reach Rs. 1,000 crore revenue in the fiscal year and will also expand to global markets. At present the company owns Colorbar, Modicare, and 24Seven brands.
According to Managing Director Samir K Modi, Colorbar is the fastest growing brand and it plans to go public and the loss-making 24Seven might have a financial turnaround in FY 25. Both the brands should be able to generate Rs. 3,000-3,500 crore revenue but Colorbar is expected to expand 50% in 2024 with the intention of increasing its exports as it will lead to faster growth. In FY24, Colorbar had a revenue of Rs 530 crore and in the coming three years, exports will account for 10-15% of the brand’s overall cosmetics business.
