There's nothing more exciting than the launch of a new Beauty brand. Holographic highlighters, glitter make-up brushes and swatch parties get Team POPxo really excited. So we were happy to hear that e-commerce giant Amazon India is reportedly launching its own beauty label! With the pace beauty industry is expanding, it is no surprise that one of the world’s most trusted brands has shown interest in it.
At present, Amazon India already retails two million beauty products across 19,000 brands.
Although, after Flipkart-owned Myntra’s announcement to open its own beauty and wellness offline store, it might be a challenge for Amazon to power through. Myntra is already selling more than 100 beauty and cosmetics brands including brands like M.A.C and Bobbi Brown. It now plans to sell these products via a chain of its wellness stores.
Beauty is a “strategically important category” for the brand as well. According to Red-Seer Consulting, the domestic online beauty and personal care market in India are expected to cross $3.5 billion by 2022 from about $300 million now.
For now, the Indian beauty market has established platforms such as Nykaa, NewU and Purplle. These company exclusively sell the best of beauty and wellness products both online and in offline stores.
Shubham Anand, head, retail, at RedSeer said, “Nykaa has picked up high momentum over the last 1-2 years and has created its own community when it comes to cosmetics. In the short-term, it may be tough for Amazon to match up, but in the long-term, they could, considering its (financial) resources.”
E-commerce giants like Flipkart, Myntra and Amazon have been exploring cosmetic market on their platforms but launching a personal label is a huge step ahead for Amazon and exciting for brand loyalists. Let’s wait and watch what Amazon ‘beauty’ has in store for us!