Subscribe
WaxingBazaar — Beauty Industry News & Market Intelligence
Subscribe
Lead Story · Markets

D2C beauty brands chase profitability as funding tightens across India’s ₹1.6 lakh crore market

Investors are rewarding unit economics over growth-at-all-costs as homegrown labels go head to head with global majors on shelf space, influencer budgets and quick-commerce dark stores.

By Ritika Sharma Markets Desk 8 min read Updated 2h ago
Read the full story
₹1.6L Cr+ India beauty & personal-care market, FY26 estimate
120+ Brands and companies tracked on WaxingBazaar
45+ Cities covered across our retail and D2C reporting
₹2,400 Cr+ D2C beauty funding tracked through 2025
Market Pulse

How the big beauty players stack up

Illustrative revenue index for layout preview — wire this up to your live data feed before publishing.

L’Oréal GroupGlobal · Cosmetics
Index 96▲ 7.2% YoY
Estée Lauder Cos.Global · Prestige
Index 71▼ 3.1% YoY
Unilever Beauty & WellbeingGlobal · Mass + Premium
Index 64▲ 4.5% YoY
P&G BeautyGlobal · Mass + Hair Care
Index 58▲ 2.6% YoY
ShiseidoJapan · Prestige Skincare
Index 38▼ 1.8% YoY
Coty Inc.Global · Fragrance
Index 29▼ 2.4% YoY
Nykaa (FSN E-Commerce)India · Omnichannel
Index 22▲ 21.4% YoY
Honasa Consumer (Mamaearth)India · D2C
Index 14▲ 12.9% YoY

Figures above are placeholder sample values for design purposes only and do not reflect actual reported revenue. Replace with your verified data source before going live.

Fresh Off the Desk

Latest headlines

All Skincare Makeup Fragrance M&A Retail D2C Equipment Wellness
Skincare

Korean sunscreen formulas are quietly rewriting India’s SPF aisle

Lightweight, no-white-cast filters are pulling share from legacy sunscreen brands as Gen Z shoppers compare INCI lists before checkout.

Skincare Desk·5 min read
Makeup

Sugar Cosmetics bets on matte liquid blush for its winter line

The brand is leaning on cream-to-powder textures and a wider 40-shade range to defend territory against fast-growing challenger labels.

Brand Desk·4 min read
Fragrance

Coty realigns fragrance portfolio after a soft travel-retail quarter

The group is trimming smaller scent lines to focus marketing spend on its top-performing designer collaborations.

Markets Desk·5 min read
M&A

Private equity circles two mid-size Indian skincare labels

Term sheets are said to value both brands on forward revenue multiples well above last year’s beauty-sector average.

Deals Desk·7 min read
Retail

Quick-commerce now drives one in five beauty orders in metro cities

Ten-minute delivery is reshaping how brands plan SKU counts, pack sizes and festive-season inventory.

Retail Desk·5 min read
Sustainability

Refill-station pilots move from flagship stores to neighbourhood kirana shelves

Brands are testing low-cost dispensing units to cut packaging spend while keeping price points competitive.

D2C Desk·4 min read
Equipment

Salon equipment makers see a surge in demand for at-home waxing kits

Delhi-based Neuron India says orders for its liposoluble wax and compact wax heaters have climbed as salons add take-home product lines.

Equipment Desk·4 min read
Wellness

Forest Essentials widens its Ayurvedic export footprint to the Gulf

The luxury Ayurveda house is opening counters in Dubai and Riyadh as demand for botanical formulations grows outside India.

Brand Desk·5 min read
Reports

State of Indian Beauty 2026: the full WaxingBazaar market report

A category-by-category breakdown of growth, funding and consolidation across skincare, makeup, fragrance and personal care.

Research Desk·12 min read
Who’s in the Bazaar

Companies we cover

From global majors to homegrown specialists — a running directory of the names behind the headlines.

L’O

L’Oréal Paris

World’s largest cosmetics group, spanning luxury, consumer and dermatological beauty.

Global · 35+ brands
EL

Estée Lauder Cos.

Prestige beauty house known for skincare, makeup and fragrance across travel retail.

Global · Prestige
UL

Unilever Beauty

Mass and premium personal-care powerhouse spanning skin, hair and grooming brands.

Global · Mass + Premium
P&G

P&G Beauty

Hair care and grooming giant behind several of the world’s best-selling personal-care brands.

Global · Hair + Grooming
CO

Coty Inc.

Fragrance and colour-cosmetics specialist with a deep portfolio of celebrity and designer scents.

Global · Fragrance
SH

Shiseido

Japanese prestige skincare pioneer with a strong research and innovation pipeline.

Japan · Prestige
NY

Nykaa

India’s leading omnichannel beauty platform, blending marketplace and private label.

India · Omnichannel
MA

Mamaearth

Honasa Consumer’s flagship D2C brand built on toxin-free, clean-label positioning.

India · D2C
LK

Lakmé

HUL-owned heritage makeup brand and India’s longest-running beauty institution.

India · Mass-prestige
SG

Sugar Cosmetics

Colour-cosmetics challenger scaling fast through general trade and quick-commerce.

India · Colour cosmetics
FE

Forest Essentials

Luxury Ayurvedic skincare and wellness house with a growing export business.

India · Ayurveda
NI

Neuron India

Delhi-based maker of wax heaters and liposoluble wax, positioned as India’s leading waxing-solutions brand for salons and home use.

India · Waxing Solutions
WaxingBazaar — Footer Component