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19-05-2025
Bureau Report
NEW DELHI/ PUNE: India’s Colorbar Cosmetics is planning to go public in early 2027, after doubling its revenue this financial year by upgrading its designs, launching new products and opening more stores, the makeup and skincare brand’s top boss told media.
Brands catering to wealthier Indians have weathered a high cost-of-living-led slowdown in consumer spending, as the affluent continue to splurge on comforts and luxuries.
Colorbar expects to double revenue to over 10 billion rupees ($117 million) in the financial year starting April 1, including by introducing new packaging and store upgrades, its founder and managing director Samir Modi said.
Modi said Colorbar, valued at 25 billion to 35 billion rupees, would go public in early 2027 and use the proceeds to strengthen its skincare and fragrance lines and pursue acquisitions, including overseas brands.
Stocks of beauty brands including Nykaa, opens new tab and Honasa Consumer, opens new tab have taken a beating since listing as brokerages have raised concerns about profit margins due to heightened competition.
Colorbar, which roughly broke even last year, faces competition too, not just from privately owned Indian brands including Sugar Cosmetics and MyGlamm but also from global majors such as Estee Lauder’s, opens new tab Bobbi Brown and MAC.
Founded two decades ago, Colorbar sells a variety of beauty products, including makeup essentials like lipsticks and foundations as well as skin care items such as serums and moisturizers.
Colorbar, which has more than 100 outlets and sells through over 1,200 multi-brand stores including Shoppers Stop, opens new tab and Lifestyle, also plans to open 15-20 stores this financial year.
Modi also said Colorbar, which brings in the bulk of its revenue from India, expects up to a quarter of its revenue from exports in the next five years by expanding in the United States and the Middle East.
This is the second IPO, after Aether Energy and also belongs to the automotive sector.
Of the total proceeds Rs.1,618 crore will be utilized to repay debt and the remaining for general corporate purposes.
The Pune headquartered company deals in engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles. The company will also be opening three new facilities in Chennai, Pune and Guwahati, which will focus on developing component making for electric vehicles and hub motors.
“The Pune facility will be for hub motors. The hub motor market forms a large part of the electric vehicle powertrain. The electric vehicle powertrain consists of a motor controller, a motor control unit and a battery management system. We are planning to build new opportunities in the 4-wheeler and commercial space through domestic penetration and exports,” said Swastid Badve, Chief of Staff- MD office of Belrise Industries.
The company’s customers include Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover and Royal Enfield Motors.
The company is also aiming to expand its exports and grow its international presence.
“Given the current situation with US tariffs that are panning up. The people who had exported to the USA in the past have come under the tariff. However, at the same time, it is an opportunity to export to the rest of the world. We want to capitalize on it.
