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Decoding The $28 Bn Beauty & Personal Care Market Opportunity

Inc42 · 10m ago

Decoding The $28 Bn Beauty & Personal Care Market Opportunity

Mamaearth is a prime example of a brand that started small in the direct-to-consumer (D2C) beauty and personal care (BPC) space but grew to dominate the segment. With various innovative ingredients, formats, and application methods, the BPC segment remains interesting for investors like Fireside Ventures. The market has seen a shift towards new-age brands, with customers willing to explore and switch to newer options. Brands like Mamaearth are now considering offline retail expansion to reach more customers and be accessible across various platforms. Other notable players in the space include WoW Skin Science, SUGAR Cosmetics, and mCaffeine, all on the verge of becoming unicorns.

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Related News

BIA Brands focused on fast-moving consumer brands acquires Asa Beauty

IndianStartupNews

IndianStartupNews · 1y ago

BIA Brands focused on fast-moving consumer brands acquires Asa Beauty

BIA Brands, a company specializing in FMCG, has acquired Asa Beauty as part of its strategy to strengthen its presence in the beauty and personal care industry. Asa Beauty, known for its clean, vegan makeup products, is the second skincare acquisition for BIA Brands. The company aims to build a portfolio of global brands originating from India and has recently expanded into the food and beverage sector. The acquisition reflects the growing interest in the Indian FMCG market, particularly in beauty and personal care, which is expected to reach $28 billion by 2030.

Nykaa sees a bright spot in beauty bet, in GCC

Livemint

Livemint · 1y ago

Nykaa sees a bright spot in beauty bet, in GCC

Beauty retailer Nykaa is expanding into the Gulf Cooperation Council (GCC) market through a partnership with UAE retail conglomerate Apparel Group. Nykaa has launched an e-commerce website called Nysaa and opened its first physical store in Dubai. The company plans to establish a significant presence in the region by replicating its domestic omnichannel beauty strategy. Nykaa sees the GCC region as a significant opportunity due to the high per capita spend on beauty and personal care products and a large female population. The partnership with Apparel Group will help Nykaa leverage its extensive retail network in the UAE and other GCC countries.

Beauty brand Plum's FY23 revenue rises 71% to Rs 322 crore

Economic Times

Economic Times · 1y ago

Direct-to-consumer beauty brand Plum reported a 71.3% increase in total revenue for FY23, reaching Rs 322 crore. However, the company's net loss also widened by 66% to Rs 52 crore. Total expenses rose to Rs 375 crore, with advertising and promotions accounting for 42% of the costs. The growth in Plum's revenue reflects a similar trend in the D2C beauty and personal care sector, driven by increased demand for such products. India's beauty and personal care market is projected to reach $30 billion by 2027.

Reliance Retail-Owned Tira Expands Beauty Offerings With Nails Our Way Roll Out

Inc42 · 1y ago

Reliance Retail-Owned Tira Expands Beauty Offerings With Nails Our Way Roll Out

Tira Beauty, owned by Reliance Retail, has expanded its beauty offerings with a new private label brand called Nails Our Way. The brand features a range of premium nail colour and care products designed to encourage self-expression and creativity. The collection includes nail enamels in various shades, essential nail care products, nail enamel removers, and complete manicure kits. Launched in April 2023, Tira Beauty is an omnichannel beauty retail platform that competes with players like Nykaa, Tata Cliq Palette, and Sephora in the Indian market. The beauty and personal care industry in India is attracting significant investment and is projected to reach $38 billion by 2028.

Antithesis raises Rs 5 Cr in pre-seed round co-led by Rukam and V3 Ventures

Entrackr

Entrackr · 3m ago

Antithesis raises Rs 5 Cr in pre-seed round co-led by Rukam and V3 Ventures

Antithesis, a beauty and personal care brand, has raised Rs 5 crore (around $582K) in its pre-seed round co-led by Rukam Capital and V3 Ventures. The proceeds will be used in growth plans as a digital-first beauty company, product innovation, and market and distribution channel expansion while also strengthening its brand presence in the personal care market. Founded by Aparna Saxena, Antithesis treats beauty and personal care products like technology products, allowing for continuous innovation and feature expansion based on consumer feedback and emerging trends. Rukam Capital, with a track record of backing high-growth consumer brands, has previously invested in brands like Beco, Sleepy Owl, Yoho, GO Desi, upliance.ai, and Indus Valley, amongst others. V3 Ventures is a founder-led early-stage fund backed by the Verlinvest group that invests in disruptive consumer companies across the globe, including Kuku FM, Go Zero, Dil Foods, Ugaoo, and Deconstruct.

'Quick commerce ops not hurting beauty biz, its aiding personal care'

Economic Times

Economic Times · 1m ago

'Quick commerce ops not hurting beauty biz, its aiding personal care'

Nykaa is cautiously approaching quick commerce, recognizing its beauty category isn't suited for rapid delivery, though personal care is gaining traction. Nykaa Now is curated separately for quick commerce. Despite the rapid expansion of rivals into beauty, Nykaa's beauty business has maintained strong growth. Nykaa's parent company reported rising profits and revenues, driven by beauty and personal care. The fashion segment is growing slower, but still outpacing industry growth, with a distinct positioning from fast-fashion competitors.

On listing day, Honasa founders say they are eyeing a global play for the personal-care company

Economic Times

Economic Times · 1y ago

On listing day, Honasa founders say they are eyeing a global play for the personal-care company

Honasa Consumer, the parent company of beauty and personal care brand Mamaearth, has listed on the stock exchanges and aims to take Indian skincare products global. The company's CEO expressed the desire to make Indian beauty a global phenomenon, following the success of global beauty companies like French and Korean brands. Honasa Consumer's IPO was oversubscribed, and the company plans to expand Mamaearth's presence in international markets by appointing channel partners. The listing is seen as a significant milestone for the company's growth and future opportunities in the beauty and personal care sector. (source: https://economictimes.indiatimes.com/tech/technology/on-listing-day-honasa-founders-say-they-are-eyeing-a-global-play-for-the-personal-care-company/articleshow/105034734.cms)

Losing Sheen? Decoding Nykaa’s volatile 2023 & calling out the risks ahead

Inc42 · 1y ago

Losing Sheen? Decoding Nykaa’s volatile 2023 & calling out the risks ahead

In 2023, Nykaa faced challenges such as rising competition, high inflation, and increasing customer acquisition costs. However, the stock managed to regain investor confidence by the end of the year, with a pick-up in its beauty and personal care and fashion verticals. The company's fashion segment showed better-than-expected results, leading to a rally in the stock. Despite competition from players like Reliance and Tata, Nykaa has regained some of its lost sheen with improved margins. Analysts hold mixed views on the stock's outlook for 2024.

Reliance Forays Into Beauty Accessories Space With Tira Tools

Inc42 · 1y ago

Reliance Forays Into Beauty Accessories Space With Tira Tools

Indian beauty ecommerce platform Tira, owned by Reliance Retail, has launched its first in-house brand called Tira Tools. The brand will offer a range of beauty accessories including brushes, face rollers, and beauty sponges, catering to both beauty enthusiasts and professional makeup artists. Tira Tools will be sold both online and offline, and aims to tap into the growing beauty and personal care market in India, which is projected to reach $38bn by 2028.

AI-powered beauty platform Honestly raises Rs 3.2 crore in funding led by Better Capital

Economic Times

Economic Times · 12m ago

AI-powered beauty platform Honestly raises Rs 3.2 crore in funding led by Better Capital

Beauty and personal care review platform Honestly has raised Rs 3.2 crore in a pre-seed funding round led by Better Capital. The funds will be used for product launch and achieving early signs of product-market fit. Founded in 2024, the platform enables peer-to-peer connections for exchanging product reviews and uses AI to analyse ingredients. The revenue model will initially focus on B2B, allowing brands to integrate widgets into their product pages. The company plans to reach 1 million users in India and may expand globally in the future. The Indian beauty and personal care market is projected to reach $30 billion by 2027.

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