Shark Tank India Featured CosIQ Disrupting the Indian Skincare Market with Innovative Products

CosIQ is a molecular skincare brand that offers scientifically-backed, effective and affordable products targeted towards the growing Gen Z market in India. As part of the 580 billions global beauty and personal care industry, 7.6 billion Indian skincare market is rapidly evolving, with high acceptance of new, innovative brands that provide clinically-proven, result-oriented formulations. CosIQ stands out as a frontrunner in this category, being the only Indian brand with in-house developed, smart skincare solutions that combine cutting-edge active ingredients with clear, transparent communication – exactly what its young, discerning customers love.

Related: Skippi Ice Pops Achieves 40X Sales Surge After Shark Tank Debut

Kanika and Angad, a married couple, founded the company CosIQ together in 2019, which they consider their “first baby.” As couplepreneurs, they convinced each other to start the business, recognizing a clear gap in the market that their ethical solution could address, unlike the existing “nimbu mirchi” (lemon and chili) brands. While they are both involved in all aspects of the company, they have divided responsibilities, with Angad leading the product and branding, and Kanika managing operations, marketing, and finances. As co-leaders of the brand, they work hard to reach a consensus on CosIQ’s direction, leveraging the benefits of being married co-founders, even though they may occasionally face challenges and disagreements.

On the Shark Tank India show, CosIQ managed to raise ₹50 lakhs (5 million rupees) in exchange for a 25% stake in the company. The investors who gave them this deal were Anupam Mittal and Vineeta Singh. After the successful Shark Tank India appearance, CosIQ’s business rose to considerable heights. Today, the company is valued at nearly ₹2 crore (20 million rupees), which is a significant increase from their valuation before Shark Tank.

CosIQ’s mission is to provide exceptional, transformative skincare products that are life-altering, magical, superhuman, natural, ultra-whitening, age-reversing, minimalistic, and of the highest quality. Their vision is to educate people on the difference between skincare and cosmetics – while cosmetics only enhance appearance, CosIQ’s products are designed to nourish, protect, and deliver tangible, long-term improvements to the health and condition of the skin. CosIQ aims to redefine people’s understanding of effective, natural skincare that goes beyond temporary visual effects.

• Getting the First 100 Adopters: The founders of the CosIQ brand knew they needed to get their product in the hands of the first 100 early adopters who have a strong social media presence. They targeted micro-influencers and nano-influencers (people with smaller but engaged followings) on Instagram to help promote the product. They also had the support of the Amazon Launchpad team to help them acquire the first 100 customers.

• Unconventional Social Media Approach: The brand took an unusual approach to their social media marketing strategy. Instead of giving influencers strict guidelines or demands, they simply offered them the product and let them share it with their audience if they liked it. This was uncommon in the industry, where brands often have very specific requirements for influencer collaborations.

• Avoiding Traditional Performance Marketing: The brand made a conscious decision to not engage in traditional performance marketing, such as Instagram, Google, or Facebook ads. They instead let their products speak for themselves and relied on organic word-of-mouth to drive awareness and sales.

COSIQ has 3 main competitors in the market. COSIQ ranks 2nd among these 3 competitors. None of COSIQ’s competitors have received any funding or investment. There are no private “unicorn” companies  within this group of competitors. These four companies – Minimalist, Derma Co., Juicy Chemistry, and Chemist at Play – are considered prominent competitors of CosIQ, as they all operate in the same market segment of natural, clean, and science-based cosmetics and skincare products.

CosIQ plans to expand its product offerings by adding new SKUs (stock-keeping units) in other categories like face cleansers, moisturizers, and toners. This horizontal expansion into new product categories is part of the brand’s scaling-up strategy. The brand has been EBITA-positive (Earnings Before Interest, Taxes, and Amortization) since its inception, indicating it has been profitable from the start.

CosIQ is growing at a rate of 30% month-over-month. The brand has an annual Gross Merchandise Value (GMV) of over ₹4 crore (40 million Indian rupees). GMV is the total value of merchandise sold through a marketplace over a certain period.

Shark Tank India is a reality show where budding entrepreneurs pitch their business ideas to a panel of investors, seeking funding and mentorship to grow their ventures.