Gaming
From Valsad to SC: Justice Pardiwala holds fate of $3 billion gaming industry, 2 lakh jobs
From Seoul to Paris: Global beauty giants target India as premium market poised for boom
Global beauty giants like L’Oréal, Estée Lauder, and Shiseido are expanding in India, betting on young affluent consumers to drive luxury beauty market growth from $800 million in 2023 to $4 billion by 2035.
Despite India’s vast market, domestic luxury labels remain relatively small players. Only Forest Essentials and Kama Ayurveda feature prominently, holding less than 10% of luxury sales
From Japan’s Shiseido to France’s L’Oréal, international cosmetics leaders are sharpening their focus on India, betting big on the country’s rising appetite for luxury beauty products as demand wanes in established economies, Reuters reported.
India’s high-end beauty market, valued at around $800 million in 2023, is forecast to balloon fivefold to $4 billion by 2035, according to a report by consulting firm Kearney and distributor LUXASIA. The surge is being fuelled by a younger, wealthier and social-media-savvy consumer base that is increasingly willing to spend on premium labels.
Currently, luxury beauty accounts for just 4% of India’s $21-billion beauty and personal care sector, a fraction compared to 8%–24% in Southeast Asia and up to 48% in developed markets like the U.S. and China—leaving significant headroom for growth.
Sameer Jindal of Houlihan Lokey said that India is one of the last major frontiers for luxury beauty, Reuters reported. He said that consumers in India are eager to experiment and embrace global trends.
Global players including Estée Lauder, L’Oréal, Amorepacific and Shiseido are accelerating store openings, launching India-specific products and expanding online channels. Estée Lauder, which owns MAC and Clinique, has declared India a priority market, aiming to reach at least 60 million women. The company is studying online sales data to identify smaller cities such as Siliguri for expansion and has partnered with designers like Sabyasachi Mukherjee.
Meanwhile, L’Oréal is ramping up investment to capture what it calls the “elevated beauty aspirations” of Indian women, while Korea’s Amorepacific is tapping into the K-beauty craze with tailored skincare regimens. Shiseido, with a 150-year heritage, recently brought its NARS brand to Nykaa’s platform and is planning further rollouts.
Despite India’s vast market, domestic luxury labels remain relatively small players. Only Forest Essentials and Kama Ayurveda feature prominently, holding less than 10% of luxury sales compared with a 40% share by homegrown brands in East Asian markets.
Retailers and e-commerce platforms are also doubling down. Amazon India is working to introduce more global names, while Shoppers Stop plans to open 15–20 beauty stores annually over the next three years.
As Nykaa co-founder Adwaita Nayar put it, “Consumers here want to stay ahead of beauty trends like ‘cherry makeup,’ and global brands are more than ready to deliver.”
SPOTLIGHT
Big-ticket buying decisions now demand more than just logic and product specs – they require trust, emotional connection, and brand stories that resonate.
Read MoreSebi targets high-profile finfluencers in widening crackdown
Sebi has been cracking down extensively on unregistered finfluencers violating securities laws. The regulator is leveraging technology to flag violations in real time and is also investing in specialist talent to keep pace with market manipulation tactics