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India's New Beauty Brands Soar, Old Ones Stumble
31 Oct
Summary
- New beauty brands in India achieved significant revenue growth in FY26.
- Innovist, Foxtale, and Dot & Key nearly doubled or tripled their sales.
- Older brands like Sugar Cosmetics faced revenue declines due to competition.
New-age beauty and personal care brands in India have reported substantial revenue growth in fiscal year 2026. Several companies achieved impressive sales increases, with some doubling or tripling their figures.
Foxtale nearly doubled its operating revenue to ₹383 crore in FY26 from ₹199 crore in the previous year. Innovist, recently acquired by L'Oreal, saw its revenue almost triple to ₹686 crore, while Dot & Key, owned by Nykaa, doubled its revenue to ₹799 crore.
These newer brands, often marketing themselves as science-backed and problem-solving, are thriving. They focus on niche segments and specific consumer needs, utilizing influencer-led social media campaigns. This strategy contrasts with older Direct-to-Consumer (D2C) brands that are facing scaling challenges.
Established brands, including Sugar Cosmetics, have experienced revenue declines. Industry experts attribute this to increased competition and a slower pace of product innovation. Sugar Cosmetics' estimated revenue for FY26 is between ₹300-350 crore, a drop from previous years.
