Trent, a Tata company, will concentrate on the beauty industry, which is expected to rise
16 December 2021, Mumbai:
Tata Group wants to focus on extending its activities in the domestic beauty market through its retail arm, Trent Limited, as India's domestic beauty industry is expected to develop considerably in the coming years.
According to the Times of India, India's beauty sector would be around $20 billion by 2025.
After exiting the cosmetics industry 23 years ago, Tata is eager to capitalize on this big growth potential. "Extended product range and experimentation with forms for these items are in the offing as we regard these as major growth areas," Noel Tata, Trent Limited's non-executive chairman, said in an interview with the Times of India on the company's plans for the beauty sector.
Simone Tata assisted in the establishment of cosmetics brand Lakme in 1953 before the company sold it to Unilever Plc's local division in 1998. Due to a 'non-compete' provision in the sale of Lakme, the Tata Group stayed out of the beauty business for nearly a decade.
According to Noel Tata, after small-scale activities in the area since 2014, Tata is now ready to refocus on the cosmetics market, as well as footwear and innerwear. As part of this endeavor, Trent is exploring developing in-house cosmetics brands.
The company already has its own retail chain, Westside, where the new cosmetics products might be sold.
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