Indian consumer preferences are changing rapidly, signalling a new era for the beauty and personal care industry. Once dominated by international giants, the market is now tilting in favour of home-grown brands, which are redefining the narrative with a deep understanding of local needs.
“Indian consumers resonate with home-grown brands because we understand their preferences better,” says Ashutosh Valani, co-founder of home-grown cosmetics brand RENÉE Cosmetics.
Valani, who previously co-founded Indian male grooming brand Beardo says that the brand offers quality, innovative, and affordable products tailored to regional demands, providing a personalised experience that international brands often cannot match.
Started in 2018 in Ahmedabad by Valani, actor-entrepreneur Aashka Goradia, and Priyank Shah, RENÉE Cosmetics is backed by Edelweiss and has raised $48.5 million till date, as per data from market intelligence platform Traxcn.
RENÉE Cosmetics is part of a growing league of Indian beauty brands like Sugar Cosmetics and Lakmé, appealing to value-conscious customers between 18 to 35 years. In conversation with Business Today, Valani revealed that RENÉE was EBITDA positive as of Q3FY25, with a revenue of ₹200 crore in FY24. This milestone underscores the brand’s ability to leverage its distribution and digital channels to forge strong customer connections.
Unlike many competitors that rely on foreign manufacturers, RENÉE collaborates with third-party experts in India to produce most of its products. “Local manufacturing ensures strict quality control, supports domestic industries, and helps us maintain high standards,” Valani explains. “We’re proud to be one of the few brands on track to achieve profitability within just seven years of inception.”
RENÉE’s growth story is driven by a strategic mix of digital and offline channels. While 20% of its sales come through its official website, a significant 45% is generated via e-commerce marketplaces, and 35% through offline channels. The brand plans to expand its offline presence to 2,500 stores within the next 12-18 months, further solidifying its foothold in the market.
Valani notes that the brand prioritises a lean portfolio of nearly 750 stock keeping units (SKUs) across categories like lips, eyes, face, nails, and fragrances. “By focusing on fewer, high-impact products, we ensure operational efficiency and avoid inventory pileups that are capital-intensive,” he says.
RENÉE Cosmetics has infused ₹150 crore to date. Valani said that the company has no immediate plans to venture into men’s grooming under the RENÉE brand. Instead, the focus remains steadfast on innovation, quality, and customer satisfaction.
According to a beauty trends report by Indian retail platform Nykaa in partnership 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 India’s number one makeup and beauty brand,” Valani asserts. “With our commitment to understanding and addressing the needs of Indian consumers, we are confident about achieving this vision.” RENÉE aims to cross ₹350 crore in revenue by FY25, and has an ambitious target of reaching revenue worth ₹550 crore by FY26.
As the beauty landscape continues to evolve, RENÉE Cosmetics exemplifies how home-grown brands are not just keeping pace but leading the charge with agility and innovation—a trend that is here to stay.