Indian cosmetics brand Colorbar Cosmetics is plotting to go public in 2027, the company’s top boss has said.
Founder and CEO Samir Modi told Reuters an IPO was in the pipeline after doubling its revenue in the latest financial year.
The performance was down to the launch of new products and opening new stores, the business mogul said.
First launched in 2004, Colorbar has over 100 stores and is stocked in major retailers in the country, such as Nykaa and department store chains Shoppers Stop and Lifestyle.
The make-up and skin care brand expects to double revenue in the coming financial year starting 1 April to 10 billion rupees (US$117m) and plans to open 15 to 20 new outlets.
Eyeing early 2027 for a public share sale, the brand told Reuters the move would fuel growth, including investment in its skin care and fragrance lines, as well as acquisitions.
Modi told The Economic Times the brand is planning to enter other new categories such as men's grooming as well as targeting teens and tweens, as well as the over 60s.
Meanwhile, the fragrance line will include diffusers and candles as well as perfumes, he said.
A revamp of its packaging is also in the works and is bringing in refillable make-up in a push towards sustainability.
Colorbar will also expand its international presence, launching in the US next month and Middle East later this year.
Modi added that “hopefully, by next year, we plan to enter the UK”.