RENÉE Cosmetics, a leading homegrown cosmetics brand, is planning for exponential growth. The brand is riding on the wave of the burgeoning growth seen in the Indian beauty and personal care market. This market is poised to touch USD 34 billion by 2028. Indian consumers are fast shifting to home-grown brands, which is changing the narrative in the beauty industry. Ashutosh Valani, co-founder, RENÉE Cosmetics, adds that Indian consumers now prefer local brands as they understand their preferences and concerns. Brands like RENÉE Cosmetics, offer innovative, high-quality products that are customised to the regional demand. It offers a personalised experience, which most of the global brands cannot offer.
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Started in 2018, RENÉE Cosmetics has received a funding of USD 48.5 million till date. It has had a revenue of INR 200 crore in FY 2024 being EBITDA positive as of Q3FY25. It aims to have INR 350 crore in revenue by FY 25 and INR 550 crore by FY26.
RENÉE Cosmetics has experienced robust growth due to its mix of offline and digital presence with 20% of its sales from its official website, 45% from e-commerce marketplaces, and 35% from offline portals. It aims to expand to 2,500 stores by 2026, cementing its place further in the beauty market. The brand partners with third-party experts in India for most of its products. Valani adds that this helps us keep a tight check on quality control, maintain high standards, and also help domestic industries.
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In terms of products, it has kept its portfolio to 750 stock keeping units (SKUs) in lips, eyes, face, nails, and fragrances. Having fewer products allows them to maintain operational efficiency and not have inventory rise, adds Valani.
The brand aims to become the leader in the makeup and beauty segment and with its commitment to addressing the Indian consumer’s requirements, it is confident of reaching the number one position, states Valani.
