The omnichannel brand plans to launch around 25 stores in the fiscal year and aims to operate up to 65 outlets by 2026
Bengaluru: New Delhi-based beauty brand Mars Cosmetics is targeting to reach Rs 350 crore in revenue by the end of the fiscal year (FY) 2025, a top company official told IndiaRetailing.
In FY24, the cosmetic retailer achieved approximately Rs 200 crore in revenue.
“The brand experienced significant growth in the last financial year, and we are currently on a high growth trajectory. As a young brand, we have numerous greenfield areas to expand into,” said Rishabh Sethia, director of the eight year old brand.
Mars Cosmetics started as an online direct-to-consumer (D2C) brand in 2016, founded by Manoj Sethia, father of Rishabh, who has been involved in offline wholesale cosmetics retailing since 2013.
Its first offline store opened in 2023 at V3S Mall in Delhi, and within less than a year, it has launched 14 exclusive brand outlets, primarily in North India.
“By the end of August, our store count will be around 20. We have committed to opening 20-25 new stores for this fiscal year, and I’m confident that we will achieve around 30 to 35 outlets by the end of the year,” said Sethia.
“Looking ahead to 2026, our long-term goal is to have at least 65 to 66 outlets spread across India,” he added.
Outlets are coming up in Bengaluru, Mumbai, Vadodara and Indore, with a couple more lined up in East India as well.
Currently, kiosks are the only planned format for the brand, as those provide sufficient space for its needs. The retailer is also exploring opportunities at airports and looking to open shop-in-shops (SIS) with large-format retailers.
“We are in discussions with modern trade partners for shop-in-shop arrangements and are close to finalising the details. In modern trade, we are planning to open at least 150-200 doors for exclusive product outlets,” Sethia said.
The company also retails through its official website, marscosmetics.in, as well as e-commerce platforms like Amazon, Myntra, Nykaa, Tira, Meesho, Purplle, and Flipkart. Additionally, quick commerce deliveries are facilitated through Blinkit and Zepto.
The brand has a presence in 7,000 general trade (GT) stores and is focusing on expanding its retail footprint, particularly in under-penetrated regions like South and East India.
“We wish to make our products accessible across a vast geography. In GT, we aim to expand to around 10,000 outlets. We already have our operations in place for these expansions,” added Sethia.
For now, the company is not in the global market, though some people are sourcing products from the general trade market and selling them in Dubai.
“One of our lip crayons, which is a bestseller on Amazon India, has made it into the top 20 bestsellers on Amazon Dubai without any organic push from our side and is being sold at three times the price compared to India. In the future, we definitely plan to expand globally,” he said.
The omnichannel brand currently offers over 1,100 stock keeping units (SKUs) across categories such as eyes, lips, face, and tools and accessories, targeting individuals aged 18 to 35 years.
Bootstrapped since its inception, the brand has catered to at least 15 to 20 million consumers, with a customer repeat rate of 22% on its D2C website.
