Beauty startups get a boost as govt ropes in Estée Lauder to spur innovation and entrepreneurship

New Delhi: The Department for Promotion of Industry and Internal Trade has signed a memorandum of understanding with The Estée Lauder Companies Inc., a US-headquartered cosmetics firm, to support innovation and entrepreneurship in India’s beauty and personal care sector.

The collaboration, which integrates the Startup India platform with Estée Lauder’s flagship BEAUTY&YOU India initiative, aims to provide emerging beauty brands with funding, mentorship, industry insights, and access to a global network of experts, the Union commerce ministry said in a statement on Wednesday.

This is the first partnership of its kind in India’s startup ecosystem with a dedicated focus on beauty ventures. The pact will also see the introduction of a new category within BEAUTY&YOU India to support women-led startups, said Sanjiv, joint secretary, DPIIT.

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With India’s beauty industry seeing rapid growth, DPIIT officials emphasised the role of such partnerships in encouraging entrepreneurship.

“Collaborations like this play a crucial role in fostering innovation. We are excited to work with The Estée Lauder Companies to create new opportunities for emerging beauty brands in India,” said Sanjiv.

Given an increasing awareness of skincare and rising disposable income in India, the country’s cosmetics market is projected to grow from an estimated $7.43 billion in 2025 to $9.69 billion by 2034, at a compound annual growth rate (CAGR) of 3%, according to Market Research Future.

“Such collaborations are important for fostering innovation and entrepreneurship in India’s evolving beauty industry and will create new opportunities,” said Sumeet Jarangal, director, Startup India, DPIIT.

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For Estée Lauder, India remains a key strategic market, and the company sees potential in the country’s evolving beauty landscape. 

“We are proud to be the first global beauty company to partner with Startup India to support the next generation of entrepreneurs, especially women, who have long been the backbone of our industry,” said Stéphane de La Faverie, executive group president, Estée Lauder.

Launched in 2022, BEAUTY&YOU India provides grants, mentorship, and industry access to help startups scale and innovate. Estée Lauder, which operates in about 150 countries, said it remains committed to shaping the future of beauty in India’s startup ecosystem.

India has the world’s third-largest startup ecosystem, with over 150,000 startups across 80% of its districts.

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