Career in Beauty Retail Industry
The market is flooded with a number of household brands, primarily of 
beauty products. This shows a clear trend of rising growth in the higher consumption lifestyle. Taking into notice is the Living Standard Measurement (LSM) classification, which signals the new socio-economic consumption patterns. This categorization is between LSM 1-4 which is the lowest level, and LSM 8 plus top. In addition to this, there has been an 80 fold increase in growth of the consumption of beauty products.
The above trend also shows the rising investment done by various beauty salons in various Indian cities, be it big or small. This includes the corporate heavy weights like Hindustan Unilever (HUL), Jawed Habib Beauty Salon and Lakme. The trend is also being encashed by foreign chains like French salon Jean Claude Biguine. No wonder they have generated fat annual revenue of 150 million Euros.
The Road Ahead
All these big fishes are all set to gulp the unorganized, locally run beauty salon market, thereby threatening their very existence. They have their weapons ready in the form of new enticing products, trained professionals and tempting ambience.
Indian beauty industry is witnessing a per capita annual spend of only $1.2, far lower than world standards. This figure is expected to grow to $5 by 2015.
Career in Beauty Retail Industry
In the above scenario, students can look for immense opportunity in career in beauty industry or retail industry in general. Moreover, retail industry is a dynamic industry a major source for the economic development of a country. The industry requires highly skilled professionals who can tune themselves with the prevailing market trend. Students with an MBA in Retail Management can a make a good career in beauty industry.
Colleges Offering MBA in Retail Management
- Indian Institute of Management, Ahmedabad (IIM A)
- Indian Institute of Management, Calcutta (IIM C)
- Indian Institute of Management, Bangalore (IIM B)
- Indian Institute of Management, Lucknow (IIM L)
- ISB - Indian School of Business, Hyderabad
- FMS - Faculty of Management Studies, University of Delhi
- Indian Institute of Management, Indore (IIM I)
- Jamnalal Bajaj Institute of Management Studies, Mumbai (JBIMS)
- Shailesh J. Mehta School of Management, IIT Mumbai (Bombay)
Source: Prachi Srivastava (Shiksha Team)
Date: 21st June, 2011
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