Call of Beauty: India New Darling of Global Brands

India is witnessing an influx of global beauty brands, probably the most in a year as per industry executives, as they target the country with the largest population of young people and increasing disposable income for their next phase of growth.

Brands have also embarked on a retail expansion drive and global funds are looking for opportunities to invest in beauty startups as they bet on a growing market. Economic headwinds in China, Asia’s biggest beauty market, too are making them turn the focus to India, say executives.

Demand for beauty products from make-up and colour cosmetics to hair-care products and fragrances is growing rapidly, fuelled by social media influencers, aspirational consumption in small cities and towns and increasing ecommerce coverage.

“India is at the cusp of a new revolution in beauty … we are seeing consumption of beauty products growing dramatically in India,” said Biju Kassim, president, beauty, at fashion and beauty retailer Shoppers Stop.

Earlier this month, Shoppers Stop launched an exclusive store to retail global giant Estee Lauder group’s brands such as MAC and Clinique in India. The Raheja Group-owned Shoppers Stop has also signed a distribution partnership with Japanese beauty giant Shiseido-owned NARS Cosmetics for a launch in the second half of the year.

On June 15, French retailer Sephora launched Hollywood singer and actress Selena Gomez-backed premium cosmetics brand Rare Beauty in India.

Read more at: https://economictimes.indiatimes.com/epaper/delhicapital/2023/jun/19/et-front/call-of-beauty-india-new-darling-of-global-brands/articleshow/101090214.cms