Key Developments
Store Opening
- Opened first NewU modern trade store at The Opulent Mall, Ghaziabad
- Marks the company's first store opening under this retail format
- Partnership with NewU, the beauty and personal care retail chain operated by H&B Stores Limited (wholly owned subsidiary of Dabur India Limited)
Expansion Plans
- Targets opening approximately 15-20 additional NewU stores over the next 12 months
- Expansion will focus on high-potential markets across India
- Stores will be strategically located to reach larger customer base
Strategic Rationale
- Modern Trade is identified as preferred retail channel for premium and luxury beauty products
- Expansion aims to strengthen company's presence in organized beauty and personal care retail
- Expected benefits include enhanced brand visibility and superior customer experience
- Planned network expansion intended to enable expansion of luxury product portfolio, enhance margins, and drive higher average order values
Management Commentary
Dheeraj Bansal, Chairman & Managing Director, stated: "The opening of our first NewU store at The Opulent Mall, Ghaziabad marks an important milestone in our retail journey. Our association with NewU and the Dabur ecosystem provides us with an opportunity to participate in the rapidly evolving organised beauty and personal care retail market. We see this store as the beginning of a much larger expansion journey, and we are targeting 15-20 additional NewU stores over the next 12 months."
Company Background
Recode Studios Limited is an Indian beauty and personal care brand with over 350 SKUs across cosmetics, skincare and personal care categories. The company follows an asset-light business model focusing on product branding, marketing and distribution while leveraging third-party manufacturing capabilities. The company has established an omnichannel presence through retail network, e-commerce platforms and distribution channels.