Investments in beauty and cosmetics industry have witnessed a two-fold growth to USD 108 million in 2019, as compared to USD 51 million in 2018. The space also saw a hike in the number of deals where it rose to 12 from seven. Recently the online beauty store, Nykaa secured a deal worth USD 14 million in April that increased its value to more than USD

700 million. Another beauty startup, MyGlamm secured USD million from Bessemer Ventures.

As people are growing more and more wellness and fashion conscious, newer options are popping up in the segment and more Indians are opting for cosmetics and skin care products thereby creating new business opportunities in the beauty and wellness space.

According to some analysts, the industry is maturing from small-scale investments and moving towards growth-stage funds. What more is that the beauty landscape is now also seeing an increase in the number of home-grown skincare and cosmetics brands, like Grofer’s ‘Orange Something’ line. Along with all this, the segment is overall witnessing an upward growth trajectory in the country with a host of foreign players expressing their interest to come and sell their brands here.