There is a boom in the global cosmetics industry and India is the newest hotspot for international beauty brands. Owing to factors such as, constantly increasing awareness, higher purchasing power and higher importance placed on personal grooming, the cosmetics industry in India is rapidly growing.
Mainly consisting of skincare and hair-care products, fragrances and colour cosmetics, the cosmetics market is seen as being very essential to the modern Indian consumer. An array of cosmetic brands have set their footprints in the Indian market in recent years like M.A.C Cosmetics, Kiko Milano, NYX, Clinique, Estee Lauder and Bobbi Brown while others are still joining the club.
The contemporary consumer is well-travelled, more exposed to ongoing trends and more connected than ever before. This has laid a full proof foundation for established international brands to make their way into India, whether online or via traditional brick-and-mortar store presence.
Italian brand Kiko Milano opened its first store in India in 2016. The company’s founder, Stefano Percassi, told analysts that “the Indian cosmetic market is growing twice as fast as the US and Europe, and, in the next decade, India will be among our top ten markets.”
The brand’s store in New Delhi is spaciously designed while showcasing colourful products. This makes for a very welcoming intervention for a consumer looking to invest in cosmetics.“Many consumers are open to trying new brands and experimenting with make-up, and India has a large market that reaches out to a vast audience,” Stefano says.
Another extremely popular brand – HUDA Beauty by Dubai based beauty blogger, Huda Kattan, was launched in India in the year 2018. This successfully added to the already growing market and yielded profitable margins. Few of the products in Kattan’s famous beauty range include items like Desert Dusk Eyeshadow Palette, Lip Strobe Metallic Liquid Lipsticks and 3D Highlighter Palettes.
Mumbai based beauty retailer – Nykaa, has been spearheading a lot of these new entries as it is an Omni-channel retailer, with presence both online and offline. The brainchild of Falguni Nayar’s, Nykaa has expanded enormously since its creation in 2012, having 41 physical stores across India and of course – a huge online presence.
It has recently had a launch of a new line of lipsticks and nail paints with the designer Masaba Gupta- Masaba by Nykaa. It has also successfully brought popular international brands to the Indian consumer with easy access to these brands and over 1000 other brands. Brands like the Face Shop, Innisfree and Laneige were introduced to Indian consumers by Nykaa in 2018.
Korean brand Laneige has a simple yet innovative concept as it maximizes the use of water to deliver the right solution to each skin concern with carefully selected, natural ingredients. The most recent brands that entered India in 2019 are Tony Moly, WOW Hair, LA Girl and award-winning brand FLOWER beauty by Hollywood veteran Drew Barrymore.
According to business intelligence firm, Euromonitor International, India’s beauty and personal care market was standing at a staggering 97,100 crore. And it is showing no signs of slowing down in 2019 as well. The current economic and social landscape is providing international brands with a solid opportunity to capture more customers and establish themselves in the Indian cosmetics market.