The Estée Lauder Companies' 2024 Beauty&You India program, created by the company's New Incubation Ventures and launched in partnership with beauty and lifestyle retailer Nykaa, is set to discover and elevate the next generation of India-focused beauty brands, entrepreneurs, innovators and creators. The latest edition of the program reflects rising interest among foreign brands in India's burgeoning beauty market.
(Notably, Nykaa was recently ranked among the top 10 beauty retailers by Cosmetify, based on 2023 online searches and Instagram followers, engagement rates and posts, beating out retailers like Boots, Douglas and Space NK.)
Beauty&You India's Program Details
Applications are open July 16-August 29, 2024; winners will be announced on November 16, 2024, at a live event in Goa. Applicants will include:
- companies with social initiatives that enhance the lives of their communities and the ecosystems in which they operate
- founders who are developing new technologies, ingredients, or solutions for skin care, makeup, hair care, and fine and home fragrance
Select applicants will take part in mentorship sessions as part of the Beauty&You India Bootcamp, featuring:
- Falguni Nayar, founder and CEO of Nykaa
- NYKAA; Sabyasachi Mukherjee, Founder, Sabyasachi; and Rohan Vaziralli, General Manager, ELCA Cosmetics Private Limited. This unique opportunity is designed to provide the winners with invaluable insights and mentorship from these experts and affirms the program’s commitment to fostering the growth and development of the next generation of Indian-focused beauty entrepreneurs.
Participation is expected to be strong; between the first (2022) and second editions (2023) of Beauty&You India, the applicant pool doubled in size.
Beauty&You India's Categories
The 2024 program will recognize winners across skin care, makeup, hair care, personal fragrance and home fragrance in the following categories:
- Imagine: Pre-Launch Beauty Concepts
- Grow: In-Market Beauty Concepts
- Create: The Next Generation of Creative Talent (e.g., photographers, filmmakers, etc., who will submit work around the theme of ‘Supercharged Futures’
Beauty&You India's Prizes & Judges
Beauty&You India 2024 will provide award recipients with financial support (a prize pool up to 4 crore, or $500K), distribution channel access, mentorship, and access to research and innovation resources, per an official announcement.
The judges include:
- Shana Randhava, senior vice president, New Incubation Ventures, The Estée Lauder Companies
- Anchit Nayar, executive director and CEO, Nykaa Beauty
- Katrina Kaif, actor and co-founder, Kay Beauty
- Gaurav Gupta, couturier, artist and designer
- Anaita Shroff Adajania, stylist, creative director and founder, Style Cell
- Samrath Bedi, executive director, Forest Essentials
- Diipa Büller-Khosla, founder, indē wild
- Sandhya Devanathan, vice president and head, India, Meta
- Rohan Vaziralli, general manager, ELCA Cosmetics Private Limited
- Jaffrey Zaman, managing director, Intercos India Private Limited
- Gianandrea Ferrari, CEO, Intercos Europe, Middle East & India
- Sumit Bhasin, senior vice president, global fragrance innovation, product development and R&D, The Estée Lauder Companies
- Jaishree Sharad, MBBS, cosmetic dermatologist, author and TEDx speaker
- Shruti Chandra, vice president, Invest India, and vice chair, women empowerment, Europe India Council for Business and Industry (EICBI)
- Rochelle Pinto, head of editorial content, Vogue India
- Sujata Assomull, contributing editor, Vogue Business
- Deepica Mutyala, founder and CEO, Live Tinted
India's Beauty Industry Set for 'Unprecedented Growth'
“India represents one of the most exciting global economies for beauty today," said Shana Randhava, senior vice president, New Incubation Ventures, ELC. "A growing consumer base, an exciting retail landscape, and one of the most powerful entertainment markets in the world continue to fuel unprecedented growth. The market is poised to continue to drive both national and global trends. We are excited to support the founders and creators in their journey."
"The global recognition of India’s potential as both a powerful consumer market and entrepreneurial hub is more evident now than ever before. Nykaa is proud to be a part of nurturing this ecosystem,” said Anchit Nayar, executive director and CEO, Nykaa Beauty. “In its third edition, Beauty&You India is more than just a platform — it's a gateway for Indian entrepreneurs to showcase their creativity and rigor on a global stage and we are excited to be part of their future.”
"Participating in Beauty&You India since its first edition has been an immensely rewarding experience, particularly in seeing its transformative impact on the Indian beauty industry," said 2024 Beauty&You India judge Katrina Kaif, actor and co-founder, Kay Beauty. "The program enhances the trajectory of emerging brands by providing a platform that fosters growth, innovation, and visibility. In my role as the co-founder of Kay Beauty, I have a deep appreciation for such platforms that support entrepreneurs in their journey. As we enter the third edition, I am as excited and committed as ever to discover and support brands that are shaping the future of beauty in India."
