Grooming products maker Gillette India Ltd on Monday reported a 43.5 per cent rise in profit to Rs 133.01 crore for the quarter ended September 2024, led by a broad-based growth. The company, which follows the July-June financial year, had reported a profit of Rs 92.69 crore in the corresponding quarter of the preceding year, according to a BSE filing from Gillette India.
9Skin, co-founded by actress Nayanthara, partners with Reliance Retail's Tira to expand into offline retail in India. This collaboration launches the exclusive Skinderella Hydrogel Mask. The partnership aims to offer innovative, natural skincare solutions, now available both online and offline through Tira's network.
Claypond Capital, Manipal Group chairman Ranjan Pai’s family office, also participated in funding for the health and wellness startup, formerly known as Healthifyme. To date, the company has raised $125 million in primary equity.
Adwaita and Anchit Nayar, leaders at Nykaa, highlight their complementary roles in driving the company's success. They share insights on India's consumer tech and quick commerce growth, Nykaa's rapid expansion in warehouse capacity, and plans for same-day or next-day delivery, leveraging their efficient capital use and market competition to build the category.
L'Oreal's third quarter sales rose by 3.4% but missed expectations due to low consumer confidence in China. North Asia sales declined 6.5%. Reduced demand for suncare and dermatological products also slowed growth. Chief Executive Nicolas Hieronimus highlighted the need to excite consumers with new innovations, especially targeting young GenZs.
The beauty giant, which manufactures makeup, skincare, perfumes, and hair care products, has been in India for close to 20 years now. It had first launched MAC in the country, followed by Clinique, Estee Lauder and recently The Ordinary—its premium affordable range aimed at recruiting younger consumers.
Beauté Secrets, a D2C beauty tools firm, has secured Rs 1.6 crore in debt from Velocity to expand its presence on quick commerce platforms and introduce new products. Founded in 2010, the company plans to enter major retail outlets and launch new beauty tools, leveraging its sustainable profits for growth and expecting a festive season boost.
He further claimed that the product is launched at a 15 per cent lower price compared to the existing products in the market. “We are retaining lower margins than other brands and it works for us, as we spend much less in marketing,” commented Shreyans Jain, co-founder, Nutrabay.
Secret Alchemist, a wellness startup focusing on aromatherapy, onboards actress Samantha Prabhu as co-founder after securing $500,000 in seed funding led by Inflection Point Ventures. The company, co-founded by Ankita Thadani and Akash Valia, plans to expand its product line and enhance brand reach with pure-grade essential oils for holistic wellness.
Mankind Pharma is spinning off its consumer brands business into a wholly-owned subsidiary, aiming to increase its revenue contribution. Similar moves by Sanofi, Cipla, and Zydus Lifesciences have yielded benefits. Mankind Pharma seeks to unlock investor value through focused marketing and potential stock market listings.
According to a report by Kearney and LUXASIA, India's luxury beauty market is projected to grow to USD 1.6 billion by 2028 and USD 4.0 billion by 2035. This growth is fueled by economic development and an expanding middle class. Brands need to tailor their strategies for region-specific preferences to succeed. Early market entry and expert support are crucial to navigate complexities, the report said.
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