Italian Men’s Cosmetics Brand, WOMO, Now Enters India with Genesis Luxury
Italian cosmetic brand for men WOMO has unveiled its long-term partnership in India with Genesis Luxury, which is a part of Reliance Brands Limited. Through this partnership, Genesis Luxury will now offer WOMO products and shaving services of Bullfrog, the barbershop founded by Romano Brida and acquired by Percassi in 2014, through all relevant channels of sale. It aims to open its flagship store in Mumbai by the first half of 2020. The entry of WOMO into the Indian market has become a part of a global expansion strategy, which also includes a consolidation of the brand’s presence in Italy, through the opening of new flagship stores.
Reliance, a renowned name in Indian Stock market has set its foot in almost all the industries in India. It is now venturing into a foreign market and bringing an Italian Men’s cosmetic brand all the way to Mumbai.
The Reliance Brands Company is all set to open its first of the kind Flagship store in Mumbai in the first half of 2020 as part of its franchise agreement with Genesis Luxury. The store is expected to sell WOMO product lines and is also expected to hold cutting and shaving services of Bullfrog (A Barbershop acquired by Percassi before five years). Reliance will be bringing in WOMO products into the Indian market as part of its global expansion strategy. It is also an initiative to consolidate the presence of the brand in Italy by opening new flagship stores in other countries.
- The joint venture of Genesis Luxury and Reliance Brands company:
Genesis Luxury is part of an Italian firm Percassi and Reliance Brands is a subsidiary of the Reliance Industries led by Mukesh Ambani. They both have partnered to launch the Men’s cosmetic brand WOMO in the financial capital city of India.
With the launch of these flagship stores, the Indian market for personal care is set to touch at least 20 billion dollars or INR 1.4 Lakh crores by the year 2025 from the current 6.5 billion dollars (INR 45,000 crores). The grooming segment of Men is one of the fastest-growing categories of the Indian economy and the launch of such flagship brands is thoroughly based on the rising disposable incomes of young aspirants and middle-class income groups.
When the founder of WOMO brand, Stefano Percassi addressed the media, he expressed his satisfaction in the agreement that has been signed with Reliance Brands for the launch of the brand in India. He also said that this partnership will allow the brand to create numerous multi-channel opportunities in the Indian Market which suits the brands appropriately. He also expressed that this partnership is expected to offer a decisive boost to the internationalization of the brand.
- Expansion portfolio of Reliance Brands:
After the opening of the first store of Reliance Brands in Mumbai’s upscale area Juhu in April 2010, Reliance brand is constantly on the expansion spree. It has so far opened more than 420 stores and 350 shop-in-shops till date. The Present portfolio of the brand partnership of Reliance includes more than fifty brands such as Brooks Brothers, Armani Exchange, Canali, Diesel, and Burberry. Reliance made its international entry in the month of May by acquiring the British toy retailer Hamleys.
The WOMO products from the Genesis Luxury brand are considered to be the most expensive men’s cosmetic brands in the world. But still, policymakers feel that it will suit the Indian market better as number of Indian Men is becoming Image conscious. The trend of Indian Men shying away from paying attention to personal appearance and wellness is a thing of the past. The brand is expected to be a great hit at the Indian Market and is expected to enhance its economy to many folds.
The $125 billion market-cap conglomerate, Reliance brands Limited, is on an expansion spree with its total store count at 420 and 350 shop-in-shops in India. Its current portfolio of brand partnerships includes some of the most expensive perfume brands that include brands such as Armani Exchange, Burberry, Diesel, Emporio Armani, Ermenegildo Zegna and G-Star Raw. RBL made its first international entry by acquiring British toy retailer Hamleys in May this year.