Estée Lauder and NYKAA Join Forces for BEAUTY&YOU India 2024
The Estée Lauder Companies (NYSE: EL) New Incubation Ventures (NIV) and NYKAA proudly unveil the winners of the BEAUTY&YOU India 2024 program. This innovative initiative, launched in collaboration with NYKAA, aims to spotlight and propel the next generation of beauty brands focused on the Indian market, all while embracing the theme of Supercharged Futures.
Recognizing Emerging Talents in Beauty
This year's initiative attracted an impressive pool of over 660 applicants from more than 50 cities across the nation. Participants competed in various categories, including skin care, makeup, hair care, fragrance, and storytelling, showcasing their unique concepts and innovative ideas. Out of all the entries, twelve finalists were selected to present their visionary concepts to a distinguished panel of industry leaders during a live pitch session.
Celebrating Innovation in the Beauty Industry
The finalists presented their projects at a prestigious event held at The Leela Palace in New Delhi. Esteemed guests at the finale included notable figures such as William P. Lauder, Executive Chairman of The Estée Lauder Companies, and Falguni Nayar, Founder and CEO of NYKAA. Their presence symbolized the significance of this competition in fostering innovation and creativity in the beauty sector.
Insights from Shana Randhava on the Winners
Shana Randhava, Senior Vice President of NIV, ELC, highlighted the potential of the award winners, stating, "This year's winners exemplify a remarkable blend of creativity and innovation. Their visions not only resonate with the future of beauty but also reflect a strong entrepreneurial spirit. We are thrilled to support these pioneers as they expand their horizons in both India and internationally."
Highlights of the BEAUTY&YOU India 2024 Winners
The winners of BEAUTY&YOU India 2024 include:
GROW (In-Market Companies)
SkinInspired
Piyush Jain, Founder & CEO
Dr. Prashant Agrawal, Founder & CPO. This innovative skin care brand utilizes multi-active ingredients combined with unique packaging to enhance user experience.
IMAGINE (Pre-Market Concepts)
Not Just Vanilla
Akshay Bawa, Founder and CEO
Kritika Rathi, Founder and CMO. A brand redefining body care, Not Just Vanilla focuses on targeted solutions that encourage self-love and body positivity.
Amright
Vaishnavi Maganti, Founder
Vijay Sivaraju, Co-Founder. Amright utilizes scientifically-backed Swiss ingredients aimed at promoting female hair regrowth with customized solutions for fuller hair.
CREATE (Creative Storytellers)
Journey of Objects
Alia Allana, Founder & Journalist. This unique e-commerce platform bridges the gap between sustainability and commerce while celebrating India's rich cultural diversity through careful product selection.
About the BEAUTY&YOU Initiative
Launched in 2022, BEAUTY&YOU India positions itself as a transformative platform for creators and innovators, helping them scale their businesses effectively. The initiative focuses on aligning brand goals with consumer demand, enriching product portfolios aimed at a new generation of Indian consumers.
The Role of New Incubation Ventures
New Incubation Ventures serves as the strategic investment arm of The Estée Lauder Companies, nurturing emerging beauty brands and innovative business models. By partnering with visionary entrepreneurs, NIV is dedicated to shaping the future of beauty while expanding the company’s diverse portfolio.
About The Estée Lauder Companies Inc.
As a leading beauty company, The Estée Lauder Companies Inc. offers a wide range of high-quality products in skin care, makeup, fragrance, and hair care. The products reach consumers in around 150 countries, showcasing iconic brands that make a significant impact in the beauty industry.
About NYKAA
NYKAA emerged in 2012 with a mission to democratize beauty and inspire consumers everywhere. Today, it is a prominent player in India’s beauty and lifestyle sector, further expanding into B2B offerings and diverse platforms that cater to a variety of consumer needs.
Frequently Asked Questions
What is the purpose of BEAUTY&YOU India?
BEAUTY&YOU India aims to support and promote innovative beauty brands and entrepreneurs by providing mentorship and resources to help them scale their businesses.
Who were the prominent figures at the BEAUTY&YOU 2024 finale?
Notable attendees included William P. Lauder, ELC's Executive Chairman, and Falguni Nayar, CEO of NYKAA, highlighting the event's significance in the beauty industry.
What categories were included in the BEAUTY&YOU India competition?
The competition featured categories such as skin care, makeup, hair care, fragrance, and storytelling, each showcasing innovative approaches to beauty.
How does the Estée Lauder Companies support emerging brands?
The Estée Lauder Companies, through its New Incubation Ventures, partners with startups and innovative beauty brands, providing funding, mentorship, and strategic guidance.
What are some of the winning brands from this program?
Winning brands include SkinInspired, Not Just Vanilla, Amright, and Journey of Objects, each representing unique and creative approaches to beauty in India.
