The Estée Lauder Companies and NYKAA Announce Winners of Inaugural BEAUTY&YOU Award in India

Bahut Beauty, Skininvest and who man chosen as winners

NEW YORK , November 17, 2022 /PRNewswire/ — The Estée Lauder Companies (ELC) and NYKAA, one of India’s Leading omnichannel beauty and lifestyle retailers announce the winners of BEAUTY&YOU India today. Created by ELC’s New Incubation Ventures and launched in association with NYKAA, BEAUTY&YOU India is an awards program launched in July 2022with the goal of discovering, highlighting and powering the next generation of Indian beauty brands.

The ten finalists presented their businesses to a jury of leading industry experts, including Katrina Kaifactor and co-founder kay beauty; Sabyasachi MukherjeeFounder and CEO, Sabyasachi; Nicola Kilner, Co-Founder and General Director, DECIEM; Deepica Mutyala, Founder and CEO of Live Tinted; Anaita Shroff Adajania, executive director of Style Cell; as well as leaders from The Estée Lauder Companies, NYKAA, Intercos and Sequoia Capital. The finalists represent a variety of concepts ranging from breakthrough product innovation and the reinvention of a century-old fragrance tradition to emerging consumer categories such as teen beauty, men’s skincare and digital beauty in the metaverse.

The winners, listed below, were announced at an awards evening at the St. Regis, Mumbai in November 92022:

IMAGINE Category: $75,000 Pre-Launch Concept Award

  • bahut beauty
  • Sonya Khubchandani De Castelbajac
  • The new brand of Bahut Beauty is inspired by India’s old historic perfume center in Kannauj, a city in the heart of Uttar Pradesh that is similar to Grasse in France and the lesser-known perfume capital of India. Building on its venerable tradition, Sonya aims to develop a thoughtful and ethical local brand, Deg & Bhapka (working title), that is driven by experience and celebrates the art and technology of the subcontinent.

GROW Category: $150,000 Award for companies in the market

  • Discard
  • Divya Malpani
  • Skinvest creates solutions for skin concerns like pigmentation, cellulite, and dark circles through innovative products that also focus on gender neutrality and mental health advocacy. The brand currently retails 5 products that seamlessly bridge the gap between clinical and cool.
  • www.skinvest.com

COMMUNITY Award: $5,000 Best Community Participation Award

  • COME ON MAN
  • Raul Shah
  • As a new age skincare brand, COME ON MAN is ready to break the social taboos surrounding men and their relationship with skincare and makeup through clean and mindful products that are innovative, derived from nature, and designed for performance.
  • https://www.yaanman.in

“The debut edition of our show has seen a stellar response from new and emerging brands,” said Anchit Nayar, CEO, Ecommerce Beauty, NYKAA. “From harnessing science and nature to flawless consumer insight, the entries and finalists showed us the immense potential of beauty brands in India that are preparing to win the hearts of consumers. This is just the beginning of this journey with the new generation of beauty entrepreneurs in India and we look forward to building the future of beauty together.”

“We are so proud of all the finalists, each of whom represented a unique vision of beauty in India and beauty for modern consumers around the world,” said Shana Ranhawa, Senior Vice President, New Incubation Ventures, The Estée Lauder Companies Notes. “The three winners: Skinvest, Bahut Beauty and COME ON MAN – elaborate concepts and businesses that inspired and excited us as to what the future holds for our industry. We look forward to working with them to support their innovative ideas.”

With more than 300 entries in 50 Indian cities, the app pool included a multitude of beauty brands across all categories: skincare, haircare, fragrances, and color cosmetics. Brand, product, marketing and investment experts from ELC and NYKAA reviewed the entire pool of applications and shortlisted the ten most promising brands and ideas before selecting the winners. Some interesting insights from applicants:

  • Almost 50% were skincare brands.
  • 95% had a sustainability mission in place
  • 80% had a female founder as part of the founding team.
  • 25% were in the pre-launch “IMAGINE” category

Winners will benefit from access to ELC and NYKAA’s relationships and expertise across the beauty ecosystem to foster emerging ideas that amplify Indian voices and address unmet consumer needs. Among other resources, BEAUTY&YOU India will provide award winners with financial support, ongoing mentoring, increased awareness and distribution support.

PROGRAM

About BEAUTY AND YOU India

The BEAUTY&YOU India program invited founders, innovators and creators to apply for the award with the opportunity to not only obtain funding, but also to learn and mentor from leading industry experts. The program reflects ELC and NYKAA’s joint commitment to positively impact the entire beauty ecosystem. Together, they share a desire to fuel the growth of the Indian premium beauty segment by supporting the changing needs and preferences of Indian consumers through the delivery of innovative and locally relevant products, experiences and business models.

HOSTS

About the Estée Lauder Companies and New Incubators

New Incubation Ventures (NIV) is the strategic early-stage investment and incubation arm of The Estée Lauder Companies. NIV partners with forward-thinking founders and entrepreneurs to create, fund and support the best emerging beauty brands and new business models to shape the future of beauty and build an actionable portfolio of diversified brands and new growth drivers for ELC’s portfolio.

About the Estée Lauder Companies Inc.

Estée Lauder Companies Inc. is one of the world’s leading manufacturers and marketers of quality skin care, makeup, fragrance and hair care products. The company’s products are sold in approximately 150 countries and territories under brand names such as Estée Lauder, Aramis, Clinique, Lab Series, Origins, M A C, La Mer, Bobby Brownaveda, jo malone londonBumble and Bumble, Darphin Paris, TOM FORD BEAUTY, Smashbox, AERIN Beauty, and laboEditions of Parfums Frédéric Malle, GLAMGLOW, KILIAN PARISToo Faced, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.

About NYKAA

Nykaa (FSN E-Commerce) was founded in 2012 by an Indian entrepreneur Falguni Nayar with a vision to bring inspiration and joy to people, everywhere, every day. Derived from the Sanskrit word ‘Nayaka’, which means one in the spotlight, Nykaa has become one of the India’s leading lifestyle-focused consumer technology platforms. Since its launch, Nykaa has expanded its product categories by introducing the Nykaa Fashion, Nykaa Man and Superstore online platforms. Delivering a comprehensive omnichannel e-commerce experience, Nykaa offers more than 4,000 brands and more than 3.1 million product SKUs through its website and mobile apps. The Nykaa Guarantee guarantees that the products available on Nykaa are 100% authentic and sourced directly from the brand or from authorized retailers. Through engaging and educational content, digital marketing, social media influence, strong CRM strategies, and the Nykaa Network community platform, Nykaa has built a loyal community of millions of beauty and fashion enthusiasts.

Website:
www.beautyandyouawards.com
Instagram:
@beautyandyouawards

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SOURCE Estée Lauder Companies Inc.

The Estée Lauder Companies and NYKAA Announce Winners of Inaugural BEAUTY&YOU Award in India rt

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