Wednesday Aug 20, 2008
Revlon is the first international colour cosmetic brand to enter Sri Lanka.

It has set up its own full scale operations in the country investing Rs. 100 million.

Revlon has formed a company in Sri Lanka, Revlon Lanka, which is a wholly owned subsidiary of Modi Revlon, India’s leading cosmetics and toiletries company.

Revlon Lanka announced its foray into the Sri Lankan cosmetics and toiletries market with the launch of its brands Revlon and Street Wear yesterday.

The company has launched its extensive range of colour cosmetics and toiletries products in Sri Lanka. The company employs over 150 and it will soon have over 500 direct employees.

Chairman, President and CEO of Modi Revlon, Umesh K Modi said, “Sri Lanka offers untapped potential in the cosmetics and toiletries market. We intend to get the first mover advantage and establish Revlon’s equity in Sri Lanka.

Our vision is to make Revlon the most preferred brand of cosmetics in Sri Lanka, and make our first international operation a success,” he said.

Modi said Revlon will replicate its Indian success story in Sri Lanka with its Store in Store Strategy. It will be placing exclusive beauty advisors in potential doors to promote and sell its wide range of colour cosmetics.

Modi Revlon has set up a state of the art manufacturing unit in Colombo to cater to the needs of the Sri Lankan market and other neighbouring countries.

This manufacturing facility will produce an extensive range of products in different product categories, which includes colour cosmetics, skin care, hair colours, shampoos and conditioners.

He said that the local cosmetic market is valued at over US $ 150 million and it has an 11 per cent annual growth.

“Due to this we see huge opportunity.”

He said that Westerners have a wrong perception on investing in Sri Lanka due to the war. “This is an investment paradise,” he said.

Source: DAILY NEWS
Author: Shirajiv SIRIMANE