India's beauty and grooming industry has seen a mammoth growth over the past decade, with several homegrown brands making a mark not just in the Indian market but globally. Some of these brands scaled so rapidly that they've entered the coveted unicorn club, achieving valuations of over $1 billion. These brands are focussed on redefining the way Indians approach beauty, personal care, and grooming, by bringing in innovation and digital-first strategies.

Nykaa

Founded in 2012 by Falguni Nayar, Nykaa started as a beauty e-comm platform that has now become a go-to destination for all things beauty. Nykaa quickly managed to add physical stores to their online presence making it an omnichannel for beauty retail. By 2020, Nykaa had achieved unicorn status with a valuation of $1.2 billion, becoming India's first beauty-tech unicorn. It later made headlines with its IPO in 2021, listing at a valuation of $13 billion. 

Purplle

Founded in 2012 by Manish Taneja and Rahul Dash, Purplle forayed into the market challenging a big player like Nykaa by offering affordable beauty solutions for Indian consumers. It boasts its customer-friendly approach coupled with AI-driven product recommendations. By June 2022, Purplle had raised capital at a valuation of $1.1 billion, officially becoming a unicorn. The platform has a mix of private-label brands and marketplace offerings.

Good Glamm Group

The Content-to-Commerce Giant, the Good Glamm Group was born in 2021 from the merger of MyGlamm, POPxo, and BabyChakra. Founded by Darpan Sanghvi, Priyanka Gill, and Naiyya Saggi, the brand earned its reputation as a disruptor in the Indian beauty industry. By November 2021, Good Glamm Group secured $150 million in funding, making its valuation past the $1.2 billion mark. The group has successfully launched and acquired product and content platforms that continue to dominate the space. 
 

Mamaearth : The Natural Beauty Revolution

Founded in 2016 by Varun and Ghazal Alagh, Mamaearth became revolutionary in providing natural beauty solutions on budget. The brand's philosophy of safe and eco-friendly personal care resonates with millennial and Gen Z consumers. In January 2022, its parent company, Honasa Consumer Pvt. Ltd., raised $52 million, taking its valuation to $1.2 billion. Mamaearth has been able to penetrate the mass market while being a young brand with a fresh approach and safe formula across all beauty categories. 

Mensa Brands

Unlike others, Mensa Brands, founded in 2021 by Ananth Narayanan (former CEO of Myntra), follows a house of brands  model acquiring and scaling digital-first consumer brands across various categories, including beauty and personal care. In November 2021, Mensa Brands raised $135 million, reaching a valuation of nearly $1.2 billion in record time. By leveraging data, AI-driven insights, and operational efficiencies, Mensa has successfully accelerated the growth of its acquired brands.