Estée Lauder Companies (ELC) has partnered with Indian beauty and lifestyle retailer NYKAA to launch BEAUTY&YOU India 2024, a competitive beauty industry programme.
Created by ELC’s New Incubation Ventures (NIV), the process aims to discover, spotlight and propel India-focused beauty retailers and new technologies, ingredients or solutions that address existing challenges for Indian beauty consumers.
The prize categories cover skin care, makeup, hair care, personal fragrance and home fragrance. The “IMAGINE” award is for pre-launch beauty concepts, the “GROW” award covers in-market beauty concepts and the “CREATE” award recognises the country’s next generation of creative talent, such as filmmakers and photographers.
Open to prospective applicants from 16 July to 29 August 2024, the winners will be announced on 16 November.
Winners will have access to a prize pool of up to 4 crore [a unit of value equivalent to Rs10m] ($500k), distribution channel access, mentorship, and research and innovation resources.
ELC is spotlighting India’s cosmetics industry, which registered a market value of $17.3bn in 2023.
NIV senior vice-president Shana Randhava commented: “India represents one of the most exciting global economies for beauty today. 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.”
ELC recently acquired the remaining interests of skincare company DECIEM Beauty.
“ELC announces BEAUTY&YOU India 2024 to fuel nation’s beauty industry” was originally created and published by Retail Insight Network, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel
