Chanel Opens New Store in Mumbai to Expand Business in India

Chanel opens its first beauty store in Mumbai to expand its presence in India's high-end market.

The French luxury brand's new store is located at Phoenix Palladium Mall in Lower Parel, Mumbai. The store features Chanel’s signature brand colors of black and white and showcases its range of fragrances, cosmetics and skincare.

Shailja Ruia, senior general manager of leasing at Phoenix Mills Limited, which owns the shopping centre, said in a LinkedIn post: “Chanel fragrances and beauty products are now available at Phoenix Palladium, a first in Mumbai, more than ever before.”

This is Chanel’s third fragrance and beauty boutique in India, the other two being at Select CityWalk Mall and DLF Promenade Mall in New Delhi.

According to market analysts Euromonitor, the Indian beauty market is expected to reach $20 billion by 2025 and grow at a double-digit compound annual growth rate over the next five to ten years.

Chanel is not the only cosmetics company to tap into India's booming high-end beauty market.

Beauty retailer Sephora recently signed an agreement with Reliance Retail Group (RRVL) to grow its business in India. RRVL Licensing has exclusive rights to build the beauty brand’s presence across all channels in India.

Japanese group Shiseido has opened its first standalone store in India and roped in Tamannaah Bhatia as its first Indian ambassador.