Indian consumer preferences are changing rapidly, marking a new era for the beauty and personal care industry. A market once dominated by international giants is now shifting towards homegrown brands that are reinterpreting the narrative with a deep understanding of local needs.
“Indian consumers resonate with homegrown brands because we understand their preferences better,” says Ashutosh Valani, co-founder of homegrown beauty brand RENÉE Cosmetics.
Valani, who previously co-founded Indian men's grooming brand Beardo, says the brand offers quality, innovative and affordable products tailored to regional demands, providing a personalized experience often unmatched by international brands.
Founded in 2018 by Ahmedabad-based Valani, actor-entrepreneur Aashka Goradia and Priyank Shah, RENÉE Cosmetics is backed by Edelweiss and has raised $48.5 million to date, according to data from market intelligence platform Traxcn.
RENÉE Cosmetics is part of a growing league of Indian beauty brands such as Sugar Cosmetics and Lakmé that appeal to value-conscious consumers aged 18 to 35 years. In conversation with Business Today, Valani revealed that RENÉE is EBITDA positive as of Q3FY25, and revenue in FY24 is Rs 200 crore. The milestone underscores the brand's ability to leverage its distribution and digital channels to create strong customer relationships.
Unlike many competitors who rely on foreign manufacturers, RENÉE collaborates with third-party experts in India to manufacture most of its products. “Local production ensures strict quality control, supports local industries, and helps us maintain high standards,” explains Valani. “We are proud to be one of the few brands on track to achieve profitability within seven years of inception.”
RENÉE's growth story is driven by a strategic mix of digital and offline channels. 20% of its sales are generated through its official website, a significant 45% through e-commerce marketplaces and 35% through offline channels. The brand plans to expand its offline presence to 2,500 stores in the next 12-18 months, further cementing its foothold in the market.
Valani notes that the brand prioritizes nearly 750 stock-keeping units (SKUs) across categories such as lips, eyes, face, nails and fragrances. “By focusing on low-cost, high-impact products, we ensure operational efficiency and avoid capital-intensive inventory build-ups,” he says.
RENÉE Cosmetics has invested Rs.150 crore till now. Valani said the company has no immediate plans for men's grooming under the RENÉE brand. Instead, the focus remains firmly on innovation, quality and customer satisfaction.
According to a beauty trends report by Indian retail platform Nykaa, in association with consulting firm RedSeer, the beauty and personal care market is set to reach U$34 billion by 2028, driven by online penetration of core beauty categories.
“Our goal is to become the number one makeup and beauty brand in India,” states Valani. “With our commitment to understanding and addressing the needs of Indian consumers, we are confident of achieving this vision.” RENÉE expects to cross Rs 350 crore in revenue by FY25 and has an ambitious target of reaching Rs 550 crore in revenue by FY26.
As the beauty landscape continues to evolve, RENÉE Cosmetics exemplifies how homegrown brands are not only keeping pace but leading the way with agility and innovation.