Beauty Startups are Embracing the Premium Online Space

Nandini Mukherjee, Managing EditorThe overall beauty business in India is growing rapidly with the cosmetics market growing at 15-20 percent annually. The retail beauty and cosmetics market in India currently estimated at USD 950 million is pegged at USD 2.68 billion by the year 2020. The beauty care market is likely to become the main contributor to the growth of Indian wellness industry primarily consisting consists of salons, cosmetic products cosmetics treatment centres and cosmetic products. The emergence of e-commerce, home delivery and digital marketing: various small and big independent beauty companies have made a sudden influx. Through
popular social media platforms headed by the likes of Instagram the awareness of advanced beauty products has exploded. These products are generally high priced and deliver increased value in terms of efficacy, safety and consumer experience.

Seizing the opportunities, various online beauty commerce platforms have sprung up and are driving sales of these advanced products with enhanced content delivery, customer education of the product offering and benefits helping several premium international brands make it big in India. These new players have identified the market and are making swift inroads into the online space. Also, various startups in this domain have seen double the number of investments as compared to last year. Speaking in terms of numbers, the investment in the beauty and cosmetics field reached a gross $108 million in the year 2019, which is shockingly high as compared to $51 million in 2018. Not only this, the sheer numbers of deals and contract signed have reached up to twelve as compared to seven in the previous years.

Witnessing such advancements, we have featured a list of “10 Best Online Beauty Startups - 2019” in our current edition. The list consists of startups that shows a lot of capabilities and is currently showing much winsome potential.