Brands
Shoppers Stop doubles down on luxury beauty gamble
MUMBAI: Shoppers Stop is betting big on lipstick and mascara. The Mumbai-based department store chain disclosed on 25 November that it has pumped an additional Rs 10 crore into Global SS Beauty Brands, its wholly-owned beauty subsidiary, bringing total investment in the venture to Rs 105 crore.
The infusion, completed through a rights issue of preference shares, marks the fourth tranche of funding since April when Shoppers Stop’s board approved investing up to Rs 50 crore in the beauty operation. The company has now exceeded that ceiling, signalling confidence in a subsidiary that has grown explosively—turnover surged from Rs 14 crore in FY 2022-23 to Rs 220 crore in FY 2024-25.
Global SS Beauty Brands operates speciality beauty stores and distributes cosmetics, positioning itself as the “partner-of-choice for leading international brands” in India’s luxury beauty market. The subsidiary is in expansion mode, using the fresh capital for new stores and working capital as it chases market share in a sector where affluent Indian consumers are increasingly trading up to premium products.
The timing is shrewd. India’s beauty and personal care market is booming, driven by rising incomes and social media-fuelled demand for international brands. Shoppers Stop, facing pressure in its core department store business, is hedging its bets by building out a dedicated beauty platform.
Whether Indians will buy enough Chanel and Dior to justify a Rs 105 crore wager remains to be seen. But Shoppers Stop is clearly convinced the future smells of expensive perfume.
Brands
Lululemon picks former Nike executive to be its next chief
Heidi O’Neill, who helped grow Nike into a $45 billion giant, will take the top job in September
CANADA: Lululemon has found its next chief executive, and she comes with serious credentials. The athleisure giant named Heidi O’Neill as its new CEO on Wednesday, ending a search that has left the company running on interim leadership since earlier this year. O’Neill will take charge on September 8, 2026, based out of Vancouver, and will join the board on the same day.
O’Neill brings more than three decades of experience across performance apparel, footwear and sport. The bulk of that time was spent at Nike, where she was a central figure in one of corporate sport’s great growth stories, helping take the company from a $9 billion business to a $45 billion global powerhouse. She oversaw product pipelines, brand strategy and consumer connections, and played a significant role in shaping how Nike spoke to athletes around the world. Earlier in her career, she worked in marketing for the Dockers brand at Levi Strauss. She also brings boardroom experience from Spotify Technology, Hyatt Hotels and Lithia and Driveway.
The board was unequivocal in its enthusiasm. “We selected Heidi because of the breadth of her experience, her demonstrated success delivering breakthrough ideas and initiatives at scale, and her ability to be a knowledgeable change and growth agent,” said Marti Morfitt, executive chair of Lululemon’s board.
O’Neill, for her part, was bullish. “Lululemon is an iconic brand with something rare: genuine guest love, a product ethos rooted in innovation, and a global platform still in the early stages of its potential,” she said. “My job will be to accelerate product breakthroughs, deepen the brand’s cultural relevance, and unlock growth in markets around the world.”
Until she arrives, Meghan Frank and André Maestrini will continue as interim co-CEOs, before returning to their previous senior leadership roles once O’Neill steps in.
Lululemon is betting that a Nike veteran who helped build one of the world’s most powerful sports brands can do something similar for an athleisure label that has genuine love from its customers but is still chasing its full global potential. O’Neill has done it before at scale. The question now is whether she can do it again.
