The cosmetic brand has experienced exponential growth since the start and accounts for almost 300 percent growth since it started operations
Bengaluru: Going by the general trend in India, cosmetics was mostly regarded as an ‘occasion-based’ category in retail. With the advent of several new league brands, the concept is changing and Renee Cosmetics looks to reinvent this category by innovating its product offering, making it multifunctional and easy on the pocket.
Getting the trend on-point
Keeping innovation at the core, Priyank Shah, Aashka Goradia Goble, and Ashutosh Valani, co-Founders, Renee Cosmetics aims to bring forth products that are premium yet affordable under the banner of Renee. The brand has always looked to explore the growing customer trend and feed the ask for trendy yet affordable cosmetics with their multifunctional range of lipsticks and other offerings. Keeping its inventive streak intact, the brand has also launched Princess by Renee, an exclusive makeup range for pre-teens that are dermatologically tested, harsh chemical-free, cruelty-free and vegan.
Renee has always believed in being a trendsetter rather than following them. The brand has always strived to stand out from the crowd with its innovative products and unique way of communicating with consumers. Whether it’s being relatable by collaborating with popular celebrities and influencers like Rashmika Mandanna, Mouni Roy, Khaby Lame, and many more or bringing clutter-breaking products like Fab 5-in-1 Lipstick, Madness PH Gloss, Fab Face 3-in-1 Makeup stick or the most recent, launching a whole new category: Princess by Renee, exclusive makeup range for pre-teens.
Growing with power
With phygital growth being the focus, Renee has incorporated most of its technology processes and teams to look after the same -in- house. This allows them an agile edge and helps keep all the processes and functions connected too. The brand pays special attention to marketing and delves into the idea of aspiration to create the right customer demand for its products. Each piece of content whether on social or PR is carefully created and released, keeping in mind the high sense of relatability and liberty the brand wants to communicate.
Further, growing strength to strength the brand wants to strike a fine balance between online and offline revenue and maintain it at a 50:50 ratio by the end of this year. Apart from its recently opened flagship store, the brand has established a widespread network consisting of more than 100 distributors across India. With over 500 beauty advisor-led stores and 2500 GT stores, Renee also has a prominent presence at popular malls, stores, and airports. The brand is now spearheading to extend their foothold in offline channels and go out all guns by opening up 1000 store-in-stores across India by the end
of 2022.
Taking the big leap
Customer engagement is big on the brand’s mind and the team actively engages with its consumers on several social media platforms. They incorporate several AR filters, contests, giveaways, celebrity influencers, masterclasses, and much more to give a visual experience of makeup’s transformational power and engage with its consumers. The brand actively fetches data around the idea of trends to understand the market gaps and therefore deploy innovative ways to reach the consumers across touchpoints in order to drive omnichannel sales.
The brand is aiming to become a 500 crore revenue company by 2024. The team aims to disrupt the makeup industry with its innovative products and change the way people look at makeup and take its artistry to the next level. They are speeding ahead to establish Renee as a prominent and globally recognized Indian colour cosmetics brand in the near future.
Brownie Points
- Renee is one of the fastest D2C brands in India to reach the 100 cr ARR mark within 20 months after restarting its operations after the pandemic.
- The brand has experienced exponential growth since the start and accounts for almost 300 percent growth since it started operations.
- Apart from opening its flagship store in Mumbai and Ahmedabad, the brand has a prolific presence online and is present on all major marketplaces like Amazon, Flipkart, Nykaa, Myntra, Purplle, Tata Cliq, JIO Mart, and many more.
- With a focus on bringing growth with positive EBIDTA, Renee has raised $11 million after two rounds of funding until now.
First appeared in The India D2C Yearbook 2022
