Over the past few years, the beauty and personal care industry in India has witnessed remarkable growth, fueled by the rising purchasing power of Indian consumers and the increasing embrace of e-commerce. This growth has paved the way for the emergence of major players like Nykaa, alongside promising startups such as SUGAR and Purplle.
Moreover, industry giants like Tata and Reliance have also entered the fray, adding to the competition in this thriving sector.
According to a recent report, the Indian beauty and personal care market reached a substantial value of $26.3 billion in 2022, with projections indicating a further ascent to $38 billion by 2028.
Tira’s introduction of its beauty accessories brand, ‘Tira Tools,’ marks a significant milestone, expanding its offerings with products catering to beauty enthusiasts and professional makeup artists. The company’s commitment to providing user-friendly, “cruelty-free and vegan” accessories aligns with the evolving consumer preferences in the thriving Indian beauty ecommerce space. This move comes amid fierce competition in the industry, driven by remarkable growth and the entry of major players and promising startups. With the Indian beauty and personal care market projected to ascend to $38 billion by 2028, Tira’s foray into this sector holds considerable promise for the future.