India's Beauty Boom: Tira, Bombay Shaving Co., and Inde Wild Share Their Secrets

India's beauty and skincare market is absolutely exploding, and three founders are at the forefront of this revolution. Bhakti Modi from Tira, Shantanu Deshpande of Bombay Shaving Company, and Diipa Khosla from Inde Wild sat down to talk about building their brands, the challenges they've faced, and what's next for the industry. It's a fascinating look into a market that's growing faster than anyone predicted.

Key Takeaways

• Community is King: Building a loyal community is more important than ever, especially for new brands.
• Authenticity Sells: Consumers are smart and can spot a fake. Genuine connection and storytelling are vital.
• Indian Brands Going Global: There's a massive opportunity for Indian brands to make their mark on the world stage.
• Nostalgia Meets Innovation: Reimagining traditional Indian ingredients and rituals with modern science is a winning formula.
• Premiumization is Everywhere: Consumers are increasingly looking for quality and are willing to pay for it, across all segments.

The Founders' Journeys

Bhakti Modi, CEO of Tira, shared her journey from a psychology and communication background to working in retail, eventually leading to the creation of Tira. She spoke about the importance of understanding the consumer experience and how Tira was built from that perspective, drawing inspiration from Indian mythology for its name and ethos. Bhakti emphasized that Tira aims to celebrate every part of a woman's beauty journey, offering an aspirational yet accessible experience.

Diipa Khosla, founder of Inde Wild, had a different path, starting as a global DIY influencer. She leveraged her massive online community to launch Inde Wild, focusing on a "clinical Ayurveda" approach – blending traditional Indian ingredients with modern science. Her hero product, the Champi hair oil, became a viral sensation, proving that reimagining old rituals can be incredibly successful. Diipa highlighted the importance of community in brand building and how Inde Wild co-creates with its followers.

Shantanu Deshpande, founder of Bombay Shaving Company, started his journey after a career in consulting. He saw a gap in the men's grooming market and initially focused on shaving. However, he quickly expanded into broader hair removal solutions for both men and women. Shantanu stressed the importance of understanding consumer behaviour, noting that while men are easy to please, women are harder to satisfy but easier to engage. His strategy involves getting in early with younger consumers, offering products that fit their evolving needs and price points.

Decoding the Beauty Market

The Indian beauty and personal care market is massive, estimated to be worth around $21 billion and growing rapidly. While color cosmetics have traditionally dominated, skincare and fragrance are seeing significant growth. The market is segmented into mass, premium, and prestige, with a clear trend towards premiumization across the board. Consumers are increasingly seeking quality ingredients and aspirational brands, even in the mass segment.

Market Segments and Growth

• Mass Market: Still the largest segment, but brands are looking to premiumize their offerings.
• Premium Market: Brands priced between ₹1,000 to ₹2,500 are seeing strong growth as consumers seek better quality.
• Prestige/Luxury Market: Priced above ₹2,500, this segment is growing fastest, though from a smaller base.

Fragrance, in particular, is experiencing a surge in innovation and consumer interest, with trends like perfume wardrobing and layering becoming popular. Clean ingredients and unique scent profiles are also key drivers in this category.

Building a Brand in India

Several key strategies emerged for building a successful brand in India:

• Hero Product Strategy: Focusing on one standout product that solves a real problem can be a great starting point. Inde Wild's Champi hair oil is a prime example.
• Community Building: Engaging with followers, listening to their feedback, and making them feel part of the brand's journey is essential. This can be done through events, social media, and excellent customer service.
• Omnichannel Presence: A strong presence across both online and offline channels is crucial for reaching a wider audience.
• Authentic Storytelling: Brands need a compelling narrative that connects with consumers on an emotional level. This can involve leveraging Indian heritage, patriotism, or addressing specific consumer pain points.
• Influencer Marketing: While mega-influencers can provide awareness, micro and nano-influencers are often more effective for building genuine community and driving conversions. Authenticity and a personal touch in outreach are key.
• Sampling and Minis: Offering trial sizes and minis can help consumers overcome price barriers and experience the product quality, leading to full-size purchases.
• Sustainability: While not always the primary driver for purchase in India yet, sustainability is becoming increasingly important, especially for younger consumers. Brands need to be honest and transparent about their efforts.

The Future of Beauty

The conversation touched upon several future trends:

• Skinimalism: Consumers are looking for simpler routines with multi-functional products that deliver results without unnecessary steps.
• Skinification: Makeup products are increasingly incorporating skincare benefits, like SPF and beneficial ingredients.
• Hybrid Formulations: The blend of natural/Ayurvedic ingredients with clinical actives (like Vitamin C and Retinol) is a major trend, with brands like Inde Wild pioneering "Ayurvedistry."
• Personalization: Technology, including AI and skin analyzers, will play a bigger role in offering tailored product recommendations.
• Global Ambition: Indian brands have a significant opportunity to go global, leveraging unique ingredients, heritage, and a growing sense of national pride.

The founders shared invaluable insights into the challenges and triumphs of building beauty brands in India. The market is dynamic, driven by informed consumers and a growing desire for quality, authenticity, and products that resonate with their identity. It's an exciting time for Indian beauty, with immense potential for innovation and global expansion.