An Overview of India’s Flourishing Beauty Industry
Recent data from our sources echo the impressive growth of the beauty and wellness sector in India. With the projected expansion forecasted to reach Rs. 2,40,000 crore by 2024 and an incredible Rs. 500,000 crore by 2030, it’s evident that the industry is poised for considerable rise. The Beauty and Salon segment alone constitutes over 30% of the market and is currently valued at Rs. 50,000 crore. Furthermore, this number is expected to climb steadily, reaching Rs. 80,000 crore by 2025 and a whopping Rs. 2,50,000 crore by 2030.
The Catalysts for Growth
The amazing growth of this sector can be accredited to several factors. One major influence is the rampant use of social media, which has escalated the demand for skincare and haircare products. Younger generations, especially, have begun to see beauty in aspirational tones, boosting its commercial appeal considerably. In addition, factors such as the development of tier II cities and towns, depreciation of property prices, and the expanding job market in the sector have significantly propelled the rise of the industry.
‘Beautiful Futures’: A Beacon for Beauty Aspirants
Keeping pace with the industry’s progress, Lakme Academy, in association with Aptech, has introduced ‘Beautiful Futures,’ a series of 12 podcast episodes. These enlightening sessions narrate success stories of established beauty professionals across India, aiming to inspire and guide aspirants. The podcast provides valuable insights about their journey, overcoming challenges, and their achievements in the industry.
Shaping the Future: A Joint Initiative
The union between Lakme Lever Pvt. Ltd., a branch of Hindustan Unilever Limited, and MEL Training and Assessments Limited (an Aptech Ltd. subsidiary), is a step taken towards training future industry professionals. They have established beauty training academies across the country. The network consists of over 450+ Lakme Salons manned by a squad of 5000+ skilled professionals delivering expert services, thus bringing the exclusive experience of the highly acclaimed Lakme Fashion Week straight to the consumers. Being an innovation-driven brand, the company ensures ample backing for their franchise growth and business partners. The Lakme Academy backed by Aptech is present in 115 locations nationwide, providing essential as well as advanced courses in various aspects of beauty and grooming.
