Estée Lauder Companies (ELC) and Indian retailer Nykaa have announced their inaugural Beauty & You Awards winners.
Unveiled in July, the Beauty & You brand incubator was set up to discover the next big premium cosmetics brand with an eye on India’s burgeoning start-up scene.
Three winners were announced in categories for pre-launch concepts, in-market businesses and community engagement.
The winner of the Imagine category for pre-launch concepts was Bahut Beauty.
The brainchild of Sonya Khubchandani De Castelbajac, Bahut Beauty is inspired by India’s ancient perfume centre at Kannauj, Uttar Pradesh, India’s version of Grasse in France.
The proposal is for an ethical homegrown brand, called Deg & Bhapka, which is experientially driven and celebrates the art and technology of the subcontinent.
Bahut Beauty receives a $75,000 prize.
Divya Malpani’s Skinvest, meanwhile, scooped the $150,000 Grow prize for in-market businesses.
Skinvest creates solutions for skin issues like pigmentation, cellulite and dark circles. It also focuses on gender neutrality and mental health advocacy.
The brand currently retails five products.
Finally, the $5,000 Community prize was awarded to Yaan Man by Rahul Shah, a new-age skin care label that sets out to break societal taboos surrounding men and their relationship with skin care and make-up.
The winners were chosen from ten finalists (shortlisted from more than 300 entries) by a jury of industry experts including Katrina Kaif, actor and co-founder of Kay Beauty; Sabyasachi Mukherjee, founder & CEO, Sabyasachi; Nicola Kilner, co-founder & CEO of Deciem; Deepica Mutyala, founder & CEO, Live Tinted; and Anaita Shroff Adajania, CEO, Style Cell, as well as leaders from ELC Nykaa, Intercos and Sequoia Capital.
“The debut edition of our programme has witnessed stellar response from new and emerging brands,” said Anchit Nayar, CEO, E-commerce Beauty, Nykaa.
“From tapping science and nature to impeccable consumer insight, the entries and finalists showed us the immense potential of beauty brands in India who are gearing up to win consumer's hearts.
“This is only the beginning of this journey with the new generation of beauty entrepreneurs in India and we are looking forward to building the future of beauty together.”
“We are so proud of all the finalists who each requested a unique vision for beauty in India and beauty for modern consumers everywhere,” added Shana Randhava, Senior Vice President, New Incubation Ventures, Estée Lauder Companies.
“The three winners – Skinvest, Bahut Beauty and Yaan Man – crafted concepts and businesses that inspired and excited us as to what the future of our industry holds.
“We look forward to working with them to support their groundbreaking ideas.”
In addition to financial support, the Beauty & You winners will benefit from continued mentorship, increased awareness and distribution support.