BW Confidential - Issue #6 - May/June 2011 - (Page 44)

Retail Store concepts Emerging formats A roundup of beauty’s innovative store concepts, merchandising and retail features from around the world Going after men in India Men in emerging markets such as India may be less hesitant to embrace grooming products than their counterparts in the West, but there are still very few stores where they can buy beauty. This was the reason Amit Bagaria, founder of Bangalore-based retail real- estate company Asipac, set up Men & Boys, a men’s only retail concept, which launched in India in May 2010 and now boasts five stores. “Around 30% of the cosmetics market in India is in men’s, and the segment last year was worth $2.5bn, but there are no retailers catering to this market and nearly 80% of the items bought by men are women’s products,” explains Bagaria. “The men’s market is growing and in five years should reach $6.2bn,” he adds. The Men & Boys concept comprises three formats: flagship stores, retail stores and shop-in-shops in department stores. The flagships measure around 50m2 (538ft2), and in addition to selling product, feature a grooming lounge and offer services, such as shaves and facials; the retail stores have a smaller format, measuring on average 28m2 (301ft2) while the shop-in-shop department-store concept covers 10m2 (107ft2). The retailer currently operates two standalone stores and one flagship in Bangalore and two shop-inshops, one in Bangalore and another in Mangalore. The retailer carries 24 brands and around 320 skus, and the offer is primarily made up of prestige niche lines, which are exclusive to Men & Boys in India. They include Anatomicals, Baxter of California and France-based Polaar. Bagaria says the stores cover around 80% of men’s grooming needs and in terms of assortment some 42% of products are in the eyes, lips and face category, 31% in shaving and 12% in haircare. Most of the products are at the high end of the market with anti-aging skincare retailing from $45 up to $200; however, there are items priced as low as $7 at the stores. The store features a simple, yet strong black and white décor and products are merchandised clearly by category, with separate sections for the eyes, lips and face category, haircare and shaving and grooming. Bagaria is looking at an ambitious rollout plan for the concept. “In the next four to five months we should be in five geographies in India, have nine stores by August and 25 stores by March 2012,” he comments. The new openings will be mainly a departmentstore shop-in-shop format. Men & Boys is targeting 100 locations by 2016. May-June 2011 - N°6 - BW Confidential s Men & Boys targets men’s grooming needs and comprises flagship stores, retail stores and department store shop-in-shops 44

Table of Contents for the Digital Edition of BW Confidential - Issue #6 - May/June 2011

Cover
Comment
Contents
Update
- Brand & retail news recap
- Digital digest
- Companies on the move
Take note
- Market facts, figures & trends
Best of BW
- Highlights from our e-publication
Launches
- The latest in fragrance, skincare & make-up
Interview
- Puig ceo Marc Puig
Insight: Skincare
- Category overview
- Department store initiatives
- Perfumeries
- The latest trends
Wellness
- Discounting in spas
- Spa case studies
Retail
- New store concepts
Travel retail
- Market analysis: Asia & Middle East
- Chinese travelers
Radar
- Four up-and-coming beauty brands
Market watch: China
- Analysis: country overview
- Industry roundtable
- Prestige retailing
- E-commerce
Packaging
- Decoration techniques
Last word
- LPK Beauty vp group creative director Liz Grubow

BW Confidential - Issue #6 - May/June 2011