India’s largest online fashion retailer Myntra will soon foray into multi-brand brick-and mortar retailing of beauty and cosmetics products under Myntra Beauty brand and is scouting for large spaces in malls and high streets across top cities, people familiar with the development said. Ananth Narayanan, chief executive at Flipkart-owned Myntra-Jabong, said the company will enrol franchisees to run the beauty and cosmetics outlets. “Beauty and personal care is a fast growing segment for us which has been growing at 400% year-on-year. Today we have over 250 leading brands across make up, skin care, bath & body, perfumes and beauty appliances,” he said. A person familiar with the development said Myntra Beauty will be modelled on LVMH-owned global chain Sephora, and will focus on 3,000-4,000 square feet. The first outlet will come up in Bengaluru, where the Flipkart-owned company is based, later this year or early next year, he said. Myntra Beauty will compete with beauty and cosmetics retailers including Sephora, Colorbar, Bobbi Brown, Body Shop, L’Oreal, and Nykaa in India’s cosmetics market estimated at about $6.5 billion, or about `45,569 c ..
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