By Admin 
Luxury beauty brand: All the cosmetic brands of the world are seeing India as an emerging market for their premium range products. These include Japan’s Sisado to Laorial, a French company. This is because their sales have slowed down in many developed countries.
A report by Consulting firm Kyrney and Luxury Beauty distributor Luxia said that India’s luxury beauty market is moving fast. It is expected to rise five times from $ 800 million to 2023 to $ 4 billion by 2035. The growing disposable income of buyers behind this fast will also be a big reason.
There are many growth opportunities in India
The market for beauty and personal care in the world is $ 21 billion. India has only 4 percent stake in the luxury beauty segment. Whereas in Southeast Asian countries, they have 8 to 24 percent and their share in developed markets like China and America are 25 to 48 percent. It is clear that companies have many opportunities to increase their business in this segment in India.
According to the Reuters report, Sameer Jindal, managing director of the Corporate Finance Business, Investment Bank in India, says Sameer Jindal, people in India prefer to try and experiment new things, so India can be considered a hub of premium beauty growth.
Many foreign brands rested an eye on India
Companies like American beauty brand Estee Lauder, Clinique and Mac are expected to grow fast in India and increase their business as their sales in American and Asian Pacific region have slowed down.
Rohan Waziralli, general manager of Esti Lords in India, says, today India is being seen as a emerging market in the company’s network. The company is carrying a target of 60 million women for its business in this country with a population of more than 1.4 billion.
Some changes may have to be made in products
However, global beauty brands may have to make some changes in India while launching their products, which suits the skin according to the humid summer and other seasons. He is also less expected to compete with indigenous brands in the market. Brands like Kirney and Luxia have recognized Forest Essentials and Cama Ayurveda as their prominent rival. They believe that luxury and premium range products contribute less than tenth in the sale of luxury and premium range of domestic brands.
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