Mary Kay to invest $20 million in its Indian entry
13 Sep 2007
New Delhi: US-based global direct-selling cosmetic major Mary Kay Inc has announced its plans to enter India, with an investment of $20 million over the next five years.
The direct-selling major will operate via its Indian subsidiary, Mary Kay Cosmetics India Pvt Ltd., and will use its investment to set up centres, develop its product portfolio, and train beauty consultants.
Mary Kay''s introduction to the Indian market is marked by the launch of a product line of around 60 products, designed specifically for the Indian market. The company plans to expand the portfolio shortly. It has also set up a beauty centre in Delhi to train consultants.
According
to KK Chua, president, Aasia-Pacific, Mary Kay, the company will invest $6-$7
million in its first year of operation.
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