Beauty&You Awards: Nurturing India's Emerging Beauty Entrepreneurs

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Posted by NewAdmin on 2025-02-04 09:00:36 |

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The Beauty&You Awards, an initiative by Estée Lauder Companies' New Incubation Ventures in collaboration with Nykaa, recently celebrated its 2024 edition at The Leela Palace in New Delhi. Established in 2022, this platform aims to identify and support India's burgeoning beauty entrepreneurs by providing them with financial backing, distribution opportunities, mentorship, and access to innovation resources. The 2024 theme, "Supercharged Futures," attracted over 660 applicants from 50 cities, each presenting unique concepts in skincare, makeup, haircare, fragrance, and storytelling. 

The awards were segmented into three categories: Grow, Imagine, and Create. In the Grow category, which focuses on in-market companies, SkinInspired emerged as the winner. Founded by Piyush Jain and Dr. Prashant Agrawal, SkinInspired integrates scientific advancements with active ingredients to develop multifunctional skincare products known for their efficacy and user-friendly packaging. 

The Imagine category, targeting pre-market concepts, recognized two winners. Not Just Vanilla, led by Akshay Bawa and Kritika Rathi, is redefining body care by offering targeted solutions for often overlooked areas, promoting confidence and self-love. Amright, co-founded by Vaishnavi Maganti and Vijay Sivaraju, combines Swiss clinical ingredients with genetic research to provide personalized hair regrowth and volumizing solutions tailored for women. In the Create category, which honors creative storytellers, Journey of Objects was awarded. Founded by Alia Allana, this e-commerce platform merges journalism with retail, emphasizing sustainability and celebrating India's cultural diversity through curated products. 

The event featured a panel of industry experts, including William P. Lauder, Executive Chairman of Estée Lauder Companies; Stéphane de La Faverie, Executive Group President of Estée Lauder Companies; and Falguni Nayar, Founder and CEO of Nykaa. Discussions highlighted India's evolving beauty landscape, the significance of innovation, cultural influences, and the pivotal role of women entrepreneurs. Keynote speakers shared insights on maintaining brand values, leveraging technology, and navigating entrepreneurial challenges, all contributing to the ongoing transformation of India's beauty and fashion sectors. 

Reflecting on the winners, Shana Randhava, Senior Vice President of Estée Lauder Companies' New Incubation Ventures, stated, "The winners of BEAUTY&YOU 2024 represent a diverse blend of creative founders and breakthrough innovation. For the third year in a row, we witnessed some extraordinary concepts, and the winners stand out as pioneers poised to make a significant impact—each bringing a unique perspective to India’s dynamic beauty landscape." 

Anchit Nayar, Executive Director and CEO of Nykaa Beauty, added, "In its third edition, BEAUTY&YOU India is more than just a platform—it's a gateway for Indian entrepreneurs to showcase their creativity and rigor on a global stage, and we are excited to be part of their future." The Beauty&You Awards continue to foster innovation and support emerging talent, playing a crucial role in shaping the future of India's beauty industry.

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