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Early success fuels funding in online beauty start-ups like MyGlamm, others

Growth at brands like Nykaa, MyGlamm, Sugar Cosmetics and Beardo has picked up, with recovery being stronger going into 2021

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To add to the list, Nykaa, the category leader, closed two funding rounds in the pandemic year 2020. It is now said to be planning an initial public officering, at a reported valuation of $3 billion.

Yuvraj Malik

3 min read Last Updated : Mar 29 2021 | 11:55 PM IST

Between Covid-19 winners and losers, one segment has rocketed: online beauty and personal care. While subdued in the initial months of the lockdown, growth at brands like Nykaa, MyGlamm, Sugar Cosmetics and Beardo has picked up, with recovery being stronger going into 2021.

Sure, e-commerce boomed as people could not (some still cannot) visit stores, but higher sales of beauty products – which includes makeup, fragrance, wellness and personal care consumables, mostly “non-essentials” – is a curious case. Analysts say the trend has been made possible because of two reasons: higher household savings during the lockdown, and an increase in

Topics : beauty products Beauty market MyGlamm

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