The brains behind India’s burgeoning beauty industry

Dec 5, 2023

By: Katya Naidu

Economics of Beauty

There are billions to be made in the beauty industry. To prove it right, seven companies that produce, market and retail beauty products have made it to the list of this millennium’s top companies, created by self-made entrepreneurs.

Credit: Pixabay

Bold & beautiful

Thanks to millennials and GenZs veering towards self-care with high-end beauty and personal care products, this sector has been seeing double-digit growth. A few companies carved a niche for themselves, as per Hurun IDFC First Top 200 Self-made entrepreneurs.

Credit: IANS

​The Nykaa of Beauty

Rank: 12 Value: ₹43,685 crore The idea turned Falguni Nayar, from an i-banker into an entrepreneur and a billionaire. The idea of retailing premium beauty products online and offline has won hearts and customers.

Credit: IANS

Mama from the earth

Rank: 78 Value: ₹9,981 crore Ghazal and Varun Alagh’s Honasa Consumer is a house of brands, salons and the brand ​Mamaearth. It recently made its debut on stock markets, one of the first D2C cos to do so.

Credit: Company

​It’s MyGlamm

Rank: 78Value: ₹9,981 crore Sharing the rank and market value with Mamaearth is yet another D2C brand, My Glamm, created by Darpan Sanghvi in 2015. It also offers a marketplace for stylists, beauticians, nail technicians and more.

Credit: Pixabay

The colour Purplle

Rank: 84 Value: ₹9,150 crore Founded in 2011 by Manish Taneja, Rahul Dash, Suyash Katyayani, Purplle is an online beauty brand. Driven by data and technology, the company provided one of its investors JSW Ventures with 18x returns as they exited the venture.

Credit: X

Unfogged: Vini Cosmetics

Rank 97Value; ₹8,600 crore Established by Darshan Patel in 2009, the company is best known for its Fogg body spray. It’s one of the few beauty companies which is not a digital native but has been building its presence in both online and offline channel.

Credit: X

Give me some SUGAR

Rank: 198 Value: ₹3,078 croreWho doesn’t know about SUGAR Cosmetics? One of its founders Vineeta Singh is hugely popular for being one of the ‘sharks’ in the TV show Shark Tank. The company was founded by her and Kaushik Mukherjee in 2012.

Credit: IANS

Girl power

The list of 405 self-made entrepreneurs who created some of India’s best businesses, features only 20 women founders. Even in the beauty industry, most of the founders are men with the exception of Nayar, Alagh and Singh who have broken the glass ceiling.

Credit: Company

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