Homegrown beauty brand MARS Cosmetics is accelerating its next phase of growth with investments in manufacturing, research and development (R&D), offline retail, and quick commerce, as it targets ₹750 crore in revenue this fiscal and aims to become a ₹1,000 crore brand by the end of the next financial year.
The company, which reported an estimated ₹550 crore in revenue in the last financial year, is focusing on strengthening its long-term business fundamentals rather than raising external capital.
According to Rishabh Sethia, Director, MARS Cosmetics, the brand remains committed to disciplined execution, expanding manufacturing capabilities, and building a sustainable, profitable beauty business. As part of this strategy, MARS is establishing its second R&D laboratory in Delhi, nearly three times larger than its existing facility. The new lab is expected to become operational in the coming months and will support the company’s product innovation pipeline.
The company has been developing skincare formulations through its in-house R&D team for the past 10–12 months and plans to launch its skincare range during Q3 or Q4 of the current fiscal, followed by a haircare portfolio.
Offline retail continues to be another major growth driver. MARS currently operates more than 50 exclusive brand outlets (EBOs) and plans to expand the network to 70–75 stores by the end of the financial year. The brand is also present in 15,000 general trade outlets, with plans to increase that footprint to 20,000 stores, alongside 150 modern trade doors and nearly 120 beauty advisor-led counters.
The company said both online and offline channels now contribute almost equally to revenue, reflecting the strength of its omnichannel strategy. Quick commerce has also emerged as one of its fastest-growing channels, accounting for 25–30% of online sales, with Blinkit becoming one of the brand’s strongest-performing partners.
MARS currently offers more than 1,000 SKUs across face, lips, eyes, nails, beauty tools, and accessories, while each exclusive store carries 400–500 products. Beyond metro cities, the brand is witnessing increasing demand from Tier II and Tier III markets, supporting its nationwide expansion strategy.
Despite its rapid scale-up, MARS said it continues to maintain double-digit profitability, reinforcing its focus on building a profitable and scalable beauty business while pursuing its long-term ₹1,000 crore revenue vision.
Source: Based on reporting by ET Retail, with additional editorial adaptation and analysis.
