Cosmetics have become an integral part of a woman’s life and in recent times the looks conscious male. They manage to not only camouflage flaws in our complexion, but also to enhance our looks. It has been reported that the Indians cosmetics market has been growing at a rate of more than 20% annually. In 2014, the Indian cosmetic industry has been valued at 29,000 crores. The top 6 cosmetic brands that are popular among consumers in India owing to diverse reasons ranging from affordable pricing, quality, options available, brand image, and exclusive use of organic ingredients are:
Lakme is a well known Indian brand that is wholly owned by Unilever. The company was established in 1952 by JRD Tata. The Tata Group decided to sell off their stake to Hindustan Unilever Limited in 1996. Lakme had also been ranked as 1 of the most trusted brands in India as per the report released by Brand Trust in 2013. The brand is the sponsor of the bi-annual Lakme Fashion Week. Products like Lakme Perfect Radiance and the iconic Lakme kajal gained significant marketshare. In 2013, Hindustan Unilever Limited reported an increase in profit of about 25%. No wonder Lakme has become a household name among the Indian populace.
Lotus Herbals Limited was started 2 decades ago in 1993 by Kamal Passi. The company has earned a name for itself in manufacture and sale of a number of well received cosmetics. The list of products include facial cleansers, sun screens, cold care lotions, shampoos and hair oils. Passi understood the importance of attractive packaging and ensured his products stood out in that department. Passi also prudently priced the products at least 10 to 15% lesser than competitor brands in the niche. Interestingly, Passi does not believe in spending a lot of money on advertising, but rather believes that his products speak for themselves.
Lotus Herbals specializes in manufacturing cosmetics that claim Ayurvedic roots and herbal ingredients. The company promotes its products by claiming their USP to be a combination of traditional knowledge with modern technology. The company exclusively uses only herbal raw material and their products are completely devoid of chemical based or synthetic ingredients. The brand is totally against the cruel practice of testing on animals. Lotus Herbals is growing at a healthy pace of 35 to 40% annually.
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Biotique was founded by Vinita Jain in 1984. This brand has consistently stood out in a world of chemical based cosmetics and all their products do not contain any synthetic fragrances or chemical preservatives. The ingredients they use have been extracted naturally from herbs. Additionally, the herbs/plants utilised for extracting the raw material are also carefully monitored from their nascent stage with the end product being totally organic.
L’Oreal has been one of the major players in the cosmetic industry on a global scale. The company has been operating in India for almost 20 years now. L’Oreal India a subsidiary of L’Oreal has witnessed growth at a rapid rate. L’Oreal Paris is 1 of its trademark brands. In 2013, the company made its first acquisition in India. Acquiring Cheryl’s Cosmeceuticals enabled L’Oreal to enter the professional skincare segment. In 2013, the company reported a commendable growth rate of 70%.
5. Shahnaz Husain
This brand was established in 1970s by Shahnaz Husain who was awarded the Padma Shri in 2006. The company also harnesses the natural potential of Ayurveda. It currently has about 350 products spread over various categories like hair, skin, and make up. The amount of time and effort that goes into research and development to ensure products with top notch quality has been the unique selling proposition of this reputed brand.
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6. Revlon India
Among international players in the cosmetic industry, the first one to launch its products in the Indian market is Revlon in the year 1995. It was the result of a collaboration between Umesh Modi with Revlon. The right pricing strategy, neither too high or too low, aimed at mid level customers has paid dividends to this company. The company currently owns about 20 to 25 % of the domestic color cosmetic marketshare.
Over the last couple of years, Indian cosmetic industry has been growing by leaps and bounds with the future looking brighter than ever. Both men and women have started spending substantially on enhancing their looks through branded beauty products and quality cosmetics which have become an indispensable part of our every day lives. Feel free to share with us your experiences of using any of the featured cosmetic brands or perhaps even other ones which are worthy of a mention here.