Investors believe that cracking the Indian market equips brands with a playbook that can be replicated across other emerging economies
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SAMPATH KUMAR GP
K-beauty has had a global glow-up, with South Korea becoming a huge cosmetics and personal care exporter. Will I-Beauty – Indian skincare and haircare formulations – meet with similar global success? Analysts believe India will soon see a billion-dollar global beauty brand.
After a year of rapid consolidations, India’s beauty founders are now building for the global stage. Homegrown players such as Asaya, Kay Beauty and Forest Essentials are expanding into markets including the US, the UK and the Middle East, betting that India’s expertise in Ayurveda, science-backed formulations and products tailored for melanin-rich skin can travel well beyond domestic borders.
The shift reflects the industry’s next phase of growth. Having built brands and gained scale in India’s fiercely competitive market, start-ups are increasingly testing whether their products can resonate with consumers overseas. Investors believe that cracking the Indian market equips brands with a playbook that can be replicated across other emerging economies and eventually in developed markets.
Formula for growth
“India’s first billion-dollar global beauty brand could emerge within the next four to five years,” said Sunitha Viswanathan, partner at Kae Capital. She believes beauty and personal care are among the sectors best placed to produce a globally scaled Indian brand, particularly in colour cosmetics, where Indian companies already cater to diverse skin tones similar to consumers across Latin America and Africa. Skincare and haircare, she added, also have global potential if they can demonstrate strong product efficacy.
Some founders say that the journey has already begun. Asaya, for instance, is selling in the US through Amazon and says it has found product-market fit for its underarm spray. The company is also evaluating expansion across Southeast Asia and other markets with large melanin-rich populations, while continuing to prioritise India.
For Nat Habit, India’s biggest advantage lies in what global incumbents cannot easily replicate. “Centuries of formulation knowledge and ingredients like hibiscus, ubtan, multani mitti and amla are our real edge,” said CEO and co-founder Swagatika Das. She believes brands should first win the trust of the Indian diaspora before expanding to mainstream consumers, arguing that the bigger challenge is changing global perceptions of India—from a manufacturing hub to a source of beauty innovation.
Published on July 5, 2026
