According to industry executives, India is currently experiencing a surge in the presence of international beauty brands, which is likely the highest in a year. These brands are targeting India due to its large population of young people and increasing disposable income, presenting an opportunity for their future growth. In addition to expanding their retail presence, global funds are actively seeking investment opportunities in beauty startups, recognizing the potential of the growing market. Economic challenges in China, the largest beauty market in Asia, have also redirected attention to India. The demand for beauty products, including makeup, color cosmetics, hair care, and fragrances, is rapidly increasing, driven by factors such as social media influencers, aspirational consumption in smaller cities and towns, and the expanding reach of e-commerce.
Biju Kassim, the president of beauty at Shoppers Stop, a leading fashion and beauty retailer, commented on India’s beauty revolution, highlighting the significant growth in beauty product consumption within the country. Shoppers Stop recently launched an exclusive store to showcase renowned global brands like MAC and Clinique, belonging to the Estee Lauder group. They have also established a distribution partnership with NARS Cosmetics, owned by Japanese beauty giant Shiseido, for a future launch. Another significant development was the introduction of Selena Gomez-backed premium cosmetics brand Rare Beauty in India by French retailer Sephora on June 15.
