MAC becomes first global beauty brand to set up shop in Sri Lanka with Exclusive Lines
Daily FT: MAC, a flagship range of The Estée Lauder Companies Inc., recently became the first global beauty brand to set up shop in Sri Lanka with Exclusive Lines.
The opening of the physical retail stores at Level 1, One Galle Face Mall, was described by both MAC, the world’s leading professional makeup brand, and industry pioneers Exclusive Lines, as a landmark development auguring well for the improving consumer profile of Sri Lanka post-crisis and influx of tourists.
The physical and plush store is after delighting Sri Lankan customers online through Exclusive Lines for two years though with a very limited MAC assortment.
The store is set to revolutionise the beauty landscape of Sri Lanka with its iconic products and immersive international retail experience.
“Celebrating the launch of MAC cosmetics in Sri Lanka is a significant milestone for us. We are having several of the world’s best sellers right here in Sri Lanka,” MAC India Brand Director Karen Thompson told the Daily FT on the sidelines of the opening of the flagship store at One Galle Face.
“The opening is a big part of the commitment of the brand. It aims to bring accessibility of the products where we know we have a fan base and a growing consumer market in Sri Lanka. We are definitely looking forward to the future with Sri Lanka,” Karen said during the interview along with Exclusive Lines Director Hiru Surtani, Head of Strategy and Corporate Development – Beauty Apsara Hiru Surtani, and Head of Strategy and Corporate Development – Fragrances Ravin Hiru Surtani.
She said the opening of the store in Sri Lanka marks the beginning of potential expansion as well, once MAC identifies new opportunities.
“We clearly see there is a lot of demand for MAC. It was just an availability issue previously. MAC being such a global brand everyone is so aware of it. We are definitely looking for very positive growth,” said Karen who added that the brand is available at newly opened Beauty and Luxe by Exclusive Lines at the Colombo City Centre along with several other brands under The Estée Lauder umbrella.
“As opposed to buying online, the experience, the personalised service and value addition that you get at a physical store, is much more. This is why we decided to open. In terms of growth, if everything goes well, our forecast is to open up at least three more outlets in the future,” Karen revealed.
She said MAC is globally known for having a large lineup of schemes. “We cater to a diverse range of consumers, and our founding model at MAC is all ages, all races, all genders, so the significance of that is that when you walk into a MAC store, you will find the right shade of foundation, you will find the right shade of concealer. We have got so many colours of lipstick, blush, color cosmetics, so you will always find something at MAC, and with that we have that large shade range. I think that brings a lot of excitement to the brand and our Sri Lankan customers,” Karen explained.
“With the latest in makeup artistry, innovation, we have the highest quality of ingredients. What we have seen is that consumers see the value in paying for a high-quality product because you get a better payoff, longer wear. We also have a range of mini products for a first-time consumer to try,” Karen said adding the flagship store is a destination for consumers to express their creativity and create their own makeup looks and styles. The new premium design features an open and inviting floor plan, showcasing the latest MAC product innovations at NEW + NOW! testing stations, along with MAC Trend stations that allow consumers to sample their favourite makeup trends using MAC products.
MAC will continue to introduce new products as well in Sri Lanka. “We continuously study the market, understand what Sri Lankan consumers are looking for, and bring in the newest and more trending products as well,” Karen said. “We invest a lot in training and development of the store teams to make sure that our customers have the highest standard of expertise, creating personalised recommendations,” she added.
OSL take:
Sri Lanka’s ongoing economic activities and overall economic expansion has attracted many foreign businesses/investors to explore the growing opportunities in the country. These opportunities are bound to see further growth with Sri Lanka’s target of becoming a regional hub. Local authorities have also launched many programmes to attract further foreign investments to the country. These measures include promotional campaigns to further strengthen trade ties enjoyed by the country and prepare incentive schemes for foreign businesses. Sri Lanka’s growth and business potential have not been lost on foreign businesses/investors since there is an increase in the number of inquiries and pledges received by the country’s Board of Investment (BoI). The country’s growth in tourism, business and trade have resulted in many international brands exploring business/investment opportunities in the country. Local businesses could also use this opportunity to form collaborations with foreign brands and businesses to set up operations in Sri Lanka. Given the growth and business potential in Sri Lanka, foreign businesses/investors could confidently explore the expanding business/investment opportunities in the country. Foreign businesses could also set up bases in Sri Lanka to engage with other countries in the region using the strong trade ties enjoyed by Sri Lanka with other countries.