Mumbai, Maharashtra, India:
The Estée Lauder Companies (ELC) and NYKAA, one of India’s main omnichannel magnificence and way of life retailers, introduced as we speak the winners for BEAUTY&YOU India. Created by ELC’s New Incubation Ventures and launched in partnership with NYKAA, BEAUTY&YOU India is an award program launched in July 2022, with an purpose to find, highlight, and propel the subsequent technology of Indian magnificence manufacturers.
The ten finalists offered their companies to a jury of main business specialists together with Katrina Kaif, Actor and Co-Founder, Kay Beauty; Sabyasachi Mukherjee, Founder & CEO, Sabyasachi; Nicola Kilner, Co-Founder & CEO, DECIEM; Deepica Mutyala, Founder & CEO, Live Tinted; Anaita Shroff Adajania, CEO, Style Cell; in addition to leaders from The Estée Lauder Companies, NYKAA, Intercos and Sequoia Capital. The finalists characterize a spread of ideas starting from breakthrough product innovation and re-imagining a centuries-old perfume custom to rising shopper classes equivalent to teen magnificence, males’s skincare and digital magnificence in the metaverse.
The winners, listed beneath, have been introduced at an awards night at St. Regis, Mumbai on November 9, 2022:
IMAGINE Category: $75,000 Prize for pre-launch ideas
- Bahut Beauty
- Sonya Khubchandani De Castelbajac
- Bahut Beauty’s new model is impressed by India’s historic historic fragrance middle at Kannauj – a metropolis in the coronary heart of Uttar Pradesh that’s akin to Grasse in France and the lesser identified fragrance capital of India. Drawing on its venerable custom, Sonya goals to develop an moral and considerate homegrown model, Deg & Bhapka (working title), that’s experientially pushed and celebrates the artwork and expertise of the subcontinent.
GROW Category: $150,000 Prize for in-market companies
- Skinvest
- Divya Malpani
- Skinvest creates options for pores and skin points like pigmentation, cellulite and darkish circles by way of revolutionary merchandise that additionally deal with gender neutrality and psychological well being advocacy. The model presently retails 5 merchandise that seamlessly bridge the hole between medical and cool.
- www.skinvest.com
COMMUNITY Award: $5,000 Prize for the finest neighborhood engagement
- YAAN MAN
- Rahul Shah
- As a new-age skincare model, YAAN MAN is all set to interrupt societal taboos surrounding males and their relationship with skincare and make-up by means of clear and aware merchandise which can be revolutionary, derived from nature and engineered for efficiency.
- www.yaanman.com
“The debut edition of our program has witnessed stellar response from new and emerging brands,” stated Anchit Nayar, Chief Executive Officer, E-commerce Beauty, NYKKA. “From tapping science and nature to impeccable consumer insight, the entries and finalists showed us the immense potential of beauty brands in India who are gearing up to win consumer’s hearts. This is only the beginning of this journey with the new generation of beauty entrepreneurs in India and we are looking forward to building the future of beauty together.”
“We are so proud of all the finalists who each represented a unique vision for beauty in India and beauty for modern consumers everywhere,” stated Shana Randhava, Senior Vice President, New Incubation Ventures, The Estée Lauder Companies notes. “The three winners – Skinvest, Bahut Beauty and YAAN MAN – crafted concepts and businesses that inspired and excited us as to what the future of our industry holds. We look forward to working with them to support their groundbreaking ideas.”
With over 300 entries throughout 50 Indian cities, the utility pool included a large number of magnificence manufacturers throughout classes – skincare, hair care, perfume, and coloration cosmetics. Brand, product, advertising, and funding specialists from ELC and NYKAA reviewed the complete utility pool and shortlisted the ten most promising of manufacturers and concepts earlier than deciding on winners. Some fascinating insights from the candidates:
- Almost 50% have been skincare manufacturers
- 95% had a sustainability mission in place
- 80% had a feminine founder as half of the founding staff
- 25% have been in the pre-launch “IMAGINE” class
The winners will profit from entry to ELC and NYKAA relationships and experience throughout the magnificence ecosystem to nurture rising concepts that amplify Indian voices and tackle unmet shopper wants. Among different sources, BEAUTY&YOU India will present award winners with monetary assist, continued mentorship, elevated consciousness, and distribution assist. 
About BEAUTY&YOU India
The BEAUTY&YOU India program invited founders, innovators, and creators to use for the award with a chance for not simply funding but additionally studying and mentorship by main business specialists. The program displays ELC and NYKAA’s joint dedication to having a optimistic impression on the complete magnificence ecosystem. Together, they share a want to gas the development of the Indian premium magnificence phase by supporting the evolving wants and preferences of Indian customers by means of the supply of breakthrough and regionally related merchandise, experiences, and business fashions.
