Colorbar to expand presence internationally, eyes public listing

Modi Enterprises intends to bring cosmetics company Colorbar to the public market within the next three years, leveraging the promising opportunities presented by the Indian beauty and personal care industry, as per industry reports.

Managing Director Samir K Modi emphasized that Colorbar is expected to achieve a revenue of Rs 1,000 crore in the upcoming fiscal year and aims to expand its presence in international markets.

Currently, the company manages brands such as Colorbar, 24Seven, and Modicare. Modi mentioned that Colorbar, being the fastest-growing brand among the three, will be the first to undergo the public offering, while the loss-making 24Seven may witness a financial turnaround by FY25.

“Together, these brands generate about Rs 3,000-3,500 crore revenue but we expect Colorbar to grow 50% this year and with the plan of increasing exports to international markets, we believe it has a potential to grow faster," said Samir K Modi, Managing Director, Colorbar.

India's beauty and personal care market is poised for rapid growth, outpacing similar markets worldwide with a compound annual growth rate of 10 percent between 2022 and 2027, swelling the market size to $30 billion from $19 billion currently.