Archies

On the non-compliance of quality standards, a penalty will be imposed on the manufacturers. However, retailers and wholesalers will also be held accountable

Besides the merchandise, Archies is also seeking to shift focus online with its e-commerce platform

Gift and greeting cards major Archies on Friday announced its foray into the beauty and personal care products segment as part of business expansion plans. It has partnered with around 45 brands, ranging from cosmetics, haircare, skincare, fragrances and scents, bath & body care and even baby care, said Archies Beauty Chief Operating Officer Hanisha Kapoor. As per the strategy, Rs 200 crore company is opting for both online and offline channels for its new business segment 'Archies Beauty'. Its products would be available on its new portal Archiesbeauty.com and the company also looks to leverage its existing network of over 200 Archies stores to sell these beauty and personal care products, she added. "By the quarter-end, Archies Beauty will be having around 75 beauty and cosmetic brands on board and by the year-end end, (it is) eying to have around 150 plus brands," Kapoor told PTI. Archies Beauty is also considering introducing dedicated outlets for its new segment by next year,

The locked in upper circuit of 10% at Rs 50.25, also its 52-week high on the BSE, extending its an over 40% surge in past nine days.

The stock rallied 9% to Rs 36.50, extending its Monday's 20% surge on the NSE