Sales: $3 billion
Key Personnel: Richard R. Rogers, executive chairman; David Holl, president and chief executive officer.
Major Products: Skin care, color, body care, sun care and fine fragrance marketed under the Mary Kay and TimeWise brand names.
New Products: TimeWise Repair skin care, Mary Kay Lash Love Lengthening Mascara, Mary Kay Translucent Loose Powder, Dance to Life fragrance, True Dimension lipstick.
Comments: Sales were flat last year at Mary Kay, which celebrates its 50th anniversary in 2013. The company notes that more than 2.5 million people around the world are Mary Kay consultants—and a growing number of these consultants are based in India.
Mary Kay India will spend approximately $20 million during the next five years, as it eyes expansion in a country with a fast-growing middle class.
Plans include expansion in Goa and Maharashtra with a new warehouse and more offices, according to the company, which first entered the country in 2007.
“I am happy to be back again to see Mary Kay India expanding,” said K.K. Chua, president, APAC, Mary Kay Inc. “Mary Kay entered into the Indian market in 2007 with a commitment to initially invest $20 million over a period of five years and additional $10 million announced last year. Mary Kay products are sold in more than 35 global markets. Women around the world, and now in India, know that Mary Kay offers products they can trust from a company in which they can believe.
“Our expansion strategy is all about understanding Indian consumer needs and offering them the best value for their money. We will continue to expand in terms of more corporate offices and warehouses in the future too. We also periodically launch exciting campaigns to connect with our consumers,” added Hina Nagarajan, country manager, Mary Kay Cosmetics Pvt. Ltd.
India isn’t the only growth region for Mary Kay. In an interview with Happi earlier this year, Marie Swisher, the company’s vice president of brand development, noted that March 2013 was a record-breaking sales month for the company due, in large part, to the continued success of recruitment efforts in Asia-Pacific and Latin America.
“Every region has momentum,” she told Happi. “But Asia-Pacific, China and Latin America are leading the way.”
For the foreseeable future, Mary Kay expects steady growth around the globe, but driven by different product categories in different regions. For example, in Latin America, fragrance sales are expanding; in Asia-Pacific, it’s skin care and in Europe, it is all about color, according to Swisher.