This article was originally published in the Cosmetics Business Luxury Beauty Trend Report. Receive your copy here.
Kylie Cosmetics, Fenty Beauty and Rare Beauty have more than celebrity founders in common – they have all entered India over the past year, alongside dozens of other international players as it promises to be the next gold rush for luxury beauty.
The brands will aim to follow the success of players like Huda Beauty, which debuted in 2018 and expanded its reach this year with e-commerce store Myntra, as it seeks further opportunities with India’s growing base of premium beauty shoppers.
“This is such an important market for us,” founder Huda Kattan has stated.
India’s luxury beauty market is expected to nearly triple in ten years, according to Kearney and Luxasia’s report Unlocking hyper-growth in Asia’s luxury beauty landscape, and it says: “There is a limited but timely window of golden opportunity for global luxury beauty brands.
“There is no more time to delay. Brands that hope to capitalise on and dominate the region need to enter now.”
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- Companies:
- Euromonitor International
- Louis Vuitton Moet Hennessy
- COTY
- Amorepacific GROUP
- Mintel International Group
- Myntra
- Anastasia Beverly Hills
- Huda Beauty
- Rare Beauty
