India’s Luxury Beauty Boom: The INR 13,000 Cr Opportunity Unfolding
Helping brands navigate and thrive in high-growth, competitive landscapes.
India’s luxury beauty market is undergoing a transformative shift—one that’s reshaping how global and homegrown brands approach growth, experience, and entry strategy.
With marquee global players like Chanel, Louis Vuitton, and L’Oréal Luxe doubling down on their India beauty business, the segment is not just expanding—it’s exploding. According to Kearney, the Indian luxury beauty market, currently valued at around ₹6,640 crore, is set to double by 2028 and reach ₹33,200 crore by 2035.
And brands aren’t just watching—they’re acting.
Global Brands Go Local: Retail & E-Com Take Center Stage
Chanel has restructured its India operations, taking over its beauty and fragrance stores and managing retail in-house via Chanel India Pvt Ltd.
Opened 4 new stores, with aggressive expansion into airport retail in Delhi, Mumbai, and Bengaluru.
Launched its India e-commerce store in August 2024—already contributing significantly to both revenue and visibility.
“By managing our retail spaces independently, we are now better positioned to align our in-store offerings with consumer preferences and profitability.” — Chanel India FY24 Filing
Louis Vuitton confirmed plans to launch its cosmetics range in India via exclusive stores.
L’Oréal Luxe opened outlets for YSL Beauty, Armani Beauty, and Prada Beauty in top metros within 6 months.
Expert Take
“The beauty and fragrance subset for luxury brands is the most accessible and an aspirational gateway to their core business. These products act as brand ambassadors.”
— Rahul Prasad, Managing Director, Pike Preston Partners
Local Luxury on the Rise: Masaba's LoveChild
Indian label House of Masaba’s cosmetics brand, LoveChild, has emerged as a fast-growth challenger:
Achieved 36% YoY revenue growth in FY24.
Plans to scale from 23 touchpoints today to over 69 offline retail locations by FY26.
Building fragrances as a standalone category and deepening cosmetic offerings.
“LoveChild serves as an accessible entry point into our brand ecosystem.”
— Masaba Gupta, Founder, House of Masaba
Why this matters:
Luxury beauty is no longer an afterthought—it’s a front-door strategy. For brands eyeing the Indian market, beauty products provide:
– Lower-barrier entry
– Strong aspirational pull
– Fast-paced growth with measurable returns
– Easier market testing before larger fashion or accessory launches
Additionally, fragrance and beauty divisions outperformed fashion and leather goods globally for houses like LVMH and Kering in FY24—marking a clear shift in growth engines.
Strategic Implications for Brand Leaders
D2C-first luxury isn’t just viable—it’s winning.
E-commerce and offline retail must work in tandem for experiential categories like beauty.
There is massive potential for local brands to carve a niche with premiumization, storytelling, and retail innovation.