Attractiveness: The following step forward good looks emblem? Estée Lauder says it might come from India

The Estée Lauder Companies is responding to the boom in the Indian beauty market with the launch of a new incubator to support beauty entrepreneurs in the country.

The launch is being driven by the American beauty conglomerate’s new incubation ventures arm and is in partnership with Nykaa, India’s biggest beauty and wellness e-commerce platform.

“India is poised to really accelerate its beauty consumption,” says Anchit Nayar, CEO of beauty e-commerce for Nykaa (and son of founder Falguni Nayar). “It’s the perfect time for us to identify the next generation of entrepreneurs who can carry the flag of Indian beauty brands and consumer brands, who will make a name for themselves not only in India but globally.”

The initiative, called Beauty & You, will support India-focused companies and entrepreneurs. It’s open to an indefinite number of brands at pre-launch or the in-market stage of development. The selected companies will have access to the two companies’ networks of local and international mentors, including Nicola Kilner, co-founder and CEO of science-backed skincare umbrella brand Deciem, and Derek Blasberg, head of fashion and beauty at YouTube, among others on the judging panel. A sum of $500,000 will be shared among brands for the most innovative, inspiring and breakthrough ideas.

Beauty & You will also offer masterclasses and guidance on financing, product development, distribution and marketing. “We are creating a platform where we will be able to bring our network, our experience and leading market experts to really help reinforce what we think are critical criterias for building out brands of the future,” says Shana Randhava, vice president of new incubation ventures at The Estée Lauder Companies.

By leveraging Estée Lauder’s international reach and Nykaa’s local presence, Randhava says, the programme will provide brands with a forum to build brand awareness and amplify growth.

The broader aim of the incubator is to grow the prestige and premium beauty offer in India. “We are looking for entrepreneurs who are leading with creativity and innovation,” says Randhava. “Product efficacy is key and a key driver to command a premium price. We really are focused on making sure that that premium or the extra level of experience is shaped across all touchpoints.” These include production innovation, storytelling and consumer engagement.