Eminent names from Indian fashion & beauty recently attended the ‘BEAUTY&YOU’ event, at a time when the country is also becoming a focus of attention from the global economy.
India has now become the most populated country in the world; meanwhile, it’s a market that’s growing fast. It’s further attracting global attention as it pounces upon the business opportunities left behind by a declining Chinese economy.
India is among the most culturally diverse countries in the world. With more than 40% of its population under the age of 25, a new generation of entrepreneurs and creators are building brands with purpose and innovation within the Indian beauty and personal care industry, which Euromonitor cites as a $16.5 billion market in 2023.
At the second annual BEAUTY&YOU India Awards, created by The Estée Lauder Companies’ New Incubation Ventures, in partnership with Nykaa, nine brands and creatives representing the future of Indian beauty, innovation and creativity were awarded cash grants and mentorship. BoF also hosted a series of panel talks with some of India’s most celebrated creatives and entrepreneurs, opening the discussion over the complexity of the Indian Hair and Beauty market and giving some direction on how to approach that country for those who are planning to include it in their export network.
BoF’s panellists offered some inspiring insight into Indian Beauty Culture and evolving habits. Journalists, entrepreneurs, artists and actors underlined how the Western point of view doesn’t depict a clear image of the Indian reality, so much that they underestimate the power of the beauty revolution that’s happening in the country. India is a huge place with many differences among regions, foreigner have to study very attentively this multifaceted market to be able to propose products that can be suitable for each Indian consumer. The role of the Indian communicators is fundamental as they should make this information available and understandable to anyone who is approaching this fascinating market.
In the picture the winners of the BEAUTY&YOU India Awards
