Global cosmetic giant, The Body Shop on Wednesday said the company is bullish on India and believes that tier-2 and tier-3 cities will catapult the company's growth in the country.
Speaking exclusively to CNBC-TV18's Ashmit Kumar, David Boynton, the chief executive officer said despite the post-pandemic digital push, offline stores continue to drive 75 to 80 percent of sales.
Boynton said the market is doing well. India is our number four market in the world and the company believes it can become number two behind the UK in the next three to five years.
"Now, it's not about coming here to solve a crisis. It's coming here to get closer to the team and figure out how we can partner together to make the Indian market even more successful for the Body Shop," he said.
Talking about the split between offline and online, the CEO said, "Broadly speaking, we imagined that we are going to land at somewhere in the range of 75-25, maybe 80-20 that kind of split between physical stores and online. It is important, not to underplay that whilst I am a lover of retail, I am also a realist and a pragmatist, right? We have a whole bunch of customers who enjoy shopping online."
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First Published: Nov 30, 2022 9:46 PM IST
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