The Haute Beauty Boom Taking Shape in India

Prada Beauty, a unit of the Italian fashion giant that retails fragrances, and skincare and make-up products, has opened its first exclusive store in India. French luxury goods house LVMH Moet Hennessy Louis Vuitton has also launched its make-up line La Beauté, where a lipstick starts with a $160 price tag.

Chanel and La Mer too are in India with exclusive boutiques, as the world’s most powerful beauty product makers seek to carve out a piece of India’s luxury fashion market and tap the buying power of its consumers.

These moves go beyond product launches. They pack a lot of symbolic value. For global luxury brands, India represents more than a sales destination—it is an opportunity to shape aspirations and build cultural relevance in one of the world’s youngest consumer markets.

Indeed, India is rapidly emerging as the next big prize for global beauty product retailers. Having become a $1 billion market by 2024, the country’s luxury beauty industry is projected to rise fourfold to $4 billion by 2035, says a study by consultant Kearney and LUXASIA, a luxury beauty products distributor and retailer.

“The luxury beauty market in India has doubled in size over the last three years, expanding at a remarkable CAGR (compound annual growth rate) of 24%. This makes it the fastest-growing luxury beauty market in Asia. A key driver of this growth is demographic change, alongside increasing purchasing power,” says Shreshta Jana, General Manager at L’Oréal Luxe India.

According to World Data Lab, India’s base of affluent consumers has expanded from 10 million in 2022 to 19 million in 2025, and is projected to hit 39 million by 2030. “This rising affluent population represents the fundamental growth engine for the luxury beauty segment,” says Jana.

Estée Lauder is targeting 60 million Indian women through digital micro-segmentation, tie-ups with fashion designer Sabyasachi, and investments in brands like Forest Essentials, which specialises in Ayurvedic beauty products.

Japan’s Shiseido, with a history of more than 150 years, has brought its NARS brand to India via Nykaa, and plans to boost its brand presence in the subcontinent.

South Korea’s Amorepacific Corp. is popularising K-beauty rituals in the country. Korean skincare has moved from niche to mainstream, with sheet masks, essences and serums now common in Indian make-up routines.

Louis Vuitton’s latest make-up collection has already taken luxury beauty to the next level with its lipsticks and lip balms, and eyeshadow palettes starting at $250. Refills for the lipsticks are available for $69 while eyeshadow refills cost $92.

Imports mirror the trend. Cosmetics and skincare product imports have more than doubled from $80.9 million in FY20 to $171.9 million in FY25, says the Ministry of Commerce and Industry.

At Nykaa, luxury beauty is now one of the fastest-growing product categories. Anchit Nayar, Executive Director and Chief Executive Officer of Nykaa Beauty, explains, “The world’s leading beauty brands are placing bold bets on India, which is now firmly positioned as the brightest opportunity in global beauty. As one of the fastest-growing beauty and personal care markets worldwide, India is projected to become a $40-45 billion market by 2030.”

Nykaa today caters to over 45 million customers via 250+ stores across 80 cities. Along with its wide online reach, it has ensured ownership of luxury beauty products is no longer confined to metros but reaches aspirational consumers across the country.

India’s luxury beauty journey is being redefined by a powerful intersection of quality products, digital influence, and a renewed commitment to self-expression and self-care… Beauty is no longer skin-deep; it’s about self-confidence, identity, and how you feel. At Birla Cosmetics, we see this not just as a market opportunity, but a cultural shift,” says Ananya Birla, Founder and Managing Director of Birla Cosmetics Pvt Ltd.

When it comes to the fastest growing segments within luxury beauty in India, industry experts note dynamic growth across categories and add that fragrances serve as a key entry point. “Fragrances account for almost half the market, growing at 1.7 times the overall market,” says Jana.

The fragrance market in India is largely untapped and has vast room for growth. “The Indian luxury consumer is no longer just buying a fragrance—they’re seeking a story, a signature sense of brand ethos that goes beyond the purchase. Luxury today is deeply personal—and that’s a powerful shift,” adds Birla.

He surge extends to high-end dermal and wellness treatments. Dr. Kiran Sethi, a dermatologist, author of Skin Sense and director of Isya Aesthetics, says some of the most sought-after procedures, especially among celebrities and high-networth individuals, include PDRN, which makes skin healthier and glowing at around Rs 19,000. NAD injections and IV NAD, priced at about Rs 39,000, are hugely popular for boosting energy, supporting mitochondria, and helping with perimenopause. “At the higher end, the Regenerate Facial costs around Rs 49,500, while Ulthera, a once-a-year face-tightening treatment, is priced about Rs 2.5 lakh plus taxes.”

PDRN is short for Polydeoxribonucleotide, a naturally derived compound from salmon DNA that purportedly promotes skin regeneration. NAD stands for Nicotinamide Adenine Dinucleotide, a crucial enzyme in cellular metabolism. Perimenopause is the transition period towards menopause.

According to the latest ISAPS Global Survey, India ranks among the top 10 countries globally for aesthetic/cosmetic procedures, led by the US, Brazil, and Japan. ISAPS is short for International Society of Aesthetic Plastic Surgery.

A recent Reuters report indicates that luxury beauty makes up just 4% of the $21-billion beauty and personal care market in India, compared with 8% to 24% across top Southeast Asian countries and 25% to 48% in China and the US, which means there is plenty of room for growth.

With India’s luxury beauty market set to quadruple by 2035, the question is no longer if global brands will succeed here, but how. Early movers like Prada, Chanel and La Mer are setting benchmarks, while the next wave will bring deeper cultural collaborations, locally relevant innovations, and digital-first strategies tailored to Indian consumers.

For many in the industry, the real test will be balancing India’s love of heritage and tradition with its appetite for modernity and global aspirations. How effectively brands straddle the cultural duality may decide who emerges as the leader in India’s luxury beauty market.

@sakshibatra18