Leading Global Direct Seller Anticipates Investing $20 Million in India over the Next Five Years
Mary Kay Inc., one of the world’s largest direct sellers of skin care and color cosmetics, today announced the launch of a new subsidiary, Mary Kay Cosmetics Pvt. Ltd., which will be based in Gurgaon, near New Delhi. With the addition of India to its international portfolio, Mary Kay Inc., headquartered in Dallas, Texas, has operations in well over 30 markets worldwide.
“We anticipate generating the same success in India that we are experiencing in other Asia-Pacific markets,” said K.K. Chua, president of Mary Kay Asia-Pacific. “We now have more than 350,000 Mary Kay Independent Beauty Consultants in the region. It is very rewarding to watch the dream launched nearly 45 years ago by Company founder Mary Kay Ash continue to enrich the lives of women and their families around the world.”
Privately held Mary Kay Inc. anticipates investing approximately $20 million in India over the next five years, with the first phase of the launch being focused out of New Delhi, Chandigarh and Ludhiana.
Mary Kay Cosmetics Pvt. Ltd. will be led by Country Manager Hina Nagarajan, who has previously worked with other high-profile consumer product companies, including ICI Paint, Ltd., and Nestle India, Ltd. She holds a Master of Business Administration degree from IIM Ahmedabad, as well as a Business Commerce degree from New Delhi University.
Speaking at the official launch ceremony in New Delhi, Nagarajan said, “Women from a variety of cultures throughout the world are embracing the Mary Kay career opportunity because it affords them the chance to own their own business, determine their own level of personal and financial success and proceed at their own pace. It also provides them with the flexibility of being able to set their own schedules while keeping life’s priorities in their proper order, which Mary Kay Inc. founder Mary Kay Ash believed to be, ‘God first, family second and career third.’
“We’re very excited about the opportunity to introduce Mary Kay’s premium skin care and color cosmetics products to the women of India,” added Nagarajan. “Women who want to be their own boss and own their own Mary Kay business will purchase Mary Kay® products direct from the Company at wholesale, then sell the products to their customers at retail, keeping the difference. Members of Mary Kay’s subsidiary in India may also decide to share the business opportunity with others, which can add to their success.
“Indian women have tremendous entrepreneurial spirit,” concluded Nagarajan. “As women in India begin to experience Mary Kay’s premium-quality skin care and color cosmetics products, and have access to the excellent educational materials, exemplary motivation and generous rewards the Company provides, we fully anticipate that India will quickly grow into one of Mary Kay’s most important international markets.”
Mary Kay’s India headquarters will be located in Gurgaon, and the Company plans to open its first Beauty Center in New Delhi in Saket. At launch, the Mary Kay® product lines will feature more than 60 high-quality skin care and color cosmetics products, with additional products planned in early 2008.
Worldwide, more than 1.7 million Independent Beauty Consultants currently own their own Mary Kay businesses in more than 30 global markets spread across five continents. In the U.S., Mary Kay was once again the best-selling brand in the combined categories of skin care and color cosmetics in 2006.*
Mary Kay Inc. generated approximately $2.25 billion in wholesale revenue in 2006 – a record. The Company has enjoyed tremendous international sales growth in recent years, especially in China, Mexico and Russia, the Company’s top-three international markets. In addition to India, Mary Kay’s Asia-Pacific markets include Australia, China, Hong Kong, Korea, Malaysia, New Zealand, Philippines and Taiwan.
“The opening of Mary Kay India is another important milestone as we continue to work toward fulfilling Mary Kay Ash’s dream of making the Mary Kay business opportunity available to women worldwide,” said Mary Kay Inc. President and CEO David Holl. “Mary Kay was fond of saying, ‘It’s a good day if just one more woman finds out how great she really is.’ With this opening, a new nation of women can enjoy the personal and financial rewards that can come from selling Mary Kay® products and building their Mary Kay business.”
To learn more about Mary Kay India., log on to http://www.marykay.co.in.
*Based on the most-recent industry sales data according to Kline and Company, Inc.’s “Cosmetics & Toiletries USA 2006 Study.”