In a big strategic shift, Indian beauty brand Colorbar Cosmetics is planning to go public with an IPO in early 2027 riding on the back of a booming revenue and a robust domestic and international growth roadmap.
Founded two decades ago and led by Samir Modi, Colorbar Cosmetics has been a major player in the Indian beauty space. In an interview with Reuters, Modi confirmed the IPO timeline and outlined a multi-pronged growth strategy driven by product innovation, retail expansion and international market foray.
Doubling Down on Revenue
Colorbar Cosmetics has doubled its revenue in the current financial year beginning 01 April 2025 and is projecting earnings to exceed INR 1,000 crore (USD 117 million). The growth is due to revamped packaging, new product launches and modernised retail formats, reflecting the brand’s focus on design led innovation and consumer centric marketing.
As per reports, Colorbar Cosmetics is valued between INR 2,500 crore and INR 3,500 crore and has broken even over the last year — a financial milestone that strengthens its public market story.
Use of IPO Proceeds
Once listed, Colorbar Cosmetics plans to use the IPO proceeds to expand its skincare and fragrance portfolio, pursue strategic acquisitions and accelerate its global presence, particularly in US and Middle East. Modi said the IPO will help in diversification and enable the company to tap into growing premium segments both at home and abroad.
“The funds raised will support brand diversification and overseas expansion,” said Modi. “Colorbar Cosmetics will go public in early 2027.”
Retail Expansion and Market Penetration
Colorbar Cosmetics has over 100 exclusive stores across India and over 1,200 multi-brand outlets including Shoppers Stop and Lifestyle. The company plans to open 15-20 stores by the end of this fiscal year and will continue to aggressively push into physical retail.
Over the next 5 years, exports will contribute up to 25% of the company’s revenue and the company will push into Western and Middle Eastern markets.
Market Dynamics: Navigating a Competitive Landscape
Colorbar’s IPO ambitions come at a time when Indian beauty and personal care brands are facing a challenging public market environment. Competitors like Nykaa (FSN E-Commerce Ventures Ltd) and Honasa Consumer (parent of MamaEarth) have seen post listing stock pressures due to margin erosion and intense competition.
Nykaa launched its IPO on 28 October 2021 with and issue size of INR 5,351.92 crore. The IPO got an overwhelming response from the investors which leads the subscription to 81.7X and it was listed with 96.27% returns. Honasa Consumer, well-known as Mamaeartch launched its IPO on 31 October 2023, it was an INR 1,701.44 crore IPO. The IPO recorded an impressive 7.6X subscription and listed with 4.04% returns.
Colorbar too is operating in a competitive space. Rivals include fast growing Indian brands like Sugar Cosmetics and MyGlamm and global giants like Estée Lauder’s Bobbi Brown and MAC. But Colorbar’s strategy of targeting affluent Indian consumers who have shown resilience in economic slowdowns is cushioning the company against broader consumer sector headwinds.
The Road Ahead
Colorbar’s proposed IPO marks a defining chapter in its growth journey — from a local indie brand to a globally ambitious player. The company’s alignment with evolving beauty trends, investment in design and retail innovation, and its clear roadmap for international expansion position it as a potential bellwether for the Indian beauty industry in the public markets.
As the brand approaches its listing window in early 2027, industry observers will closely watch whether Colorbar Cosmetics can sustain its growth trajectory and deliver where others have stumbled — balancing expansion with profitability in one of the world’s most dynamic beauty markets. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.