The American cosmetics group announces the launch of Beauty&You Indiaa program intended to highlight and support the young shoots of Indian beauty.
An accelerator program for beauty talent in India.
While India is considered one of the fastest growing markets for the luxury sector and might be worth $8.5 billion by the end of 2022 according to a Euromonitor International study, The Estée Lauder Companies is teaming up with NYKAA – one of the country’s leading beauty retailers – to initiate a program for local entrepreneurs in the cosmetics sector.
Created in the bosom of New Incubation Ventures, the incubator of Estée Lauder Companies, Beauty&You India aims to support the creators of beauty companies in a global way in the long-term development of their activity. To do this, the profiles selected will benefit from financial support – set at some $500,000 for the entire program -, networking, masterclasses and mentoring on complementary themes: finance, supply chain, marketing. .
“This program reflects the joint commitment of the Estée Lauder Companies and NYKAA to positively impact the entire beauty ecosystem and the shared desire to fuel the growth of India’s high-end beauty segment. -range by meeting the ever-changing needs and preferences of consumers by offering products, experiences and business models“the two partners specify in a press release while Shana Randhava, vice president of New Incubation Ventures, underlines”India’s particularly dynamic economy“.
Deployed a few days ago, le site Beauty&You will integrate on August 1st a section dedicated to the submission of applications, open until September 30th. The selected projects will be communicated during the month of November.
