Stating that the brands are built for the new age, Birla added that they will challenge conventions and redefine consumer experience
Mumbai: Ananya Birla, daughter of billionaire Kumar Mangalam Birla, on Wednesday announced an entry into the fast-growing beauty and cosmetics space with the launch of a new venture.
The 30-year-old Birla, who launched a microlending venture at 17 and also sits on the board of the USD 62-billion Aditya Birla Group’s apex strategic body, will come out with a range of beauty and personal care brands nationally through 2025, a statement said.
The statement said rising disposable incomes, deeper e-commerce penetration and growing openness among consumers are leading India’s beauty. Personal care market is expected to grow at 10-11 per cent annually and the sector is expected to be a USD 34 billion opportunity by 2028.
“With greater exposure to global products and knowledge, Indian consumers now demand more from home-grown brands. This venture aims to meet those expectations with authenticity and innovation and bring world-class products to the Indian marketplace,” Birla said.
Stating that the brands are built for the new age, Birla added that they will challenge conventions and redefine consumer experience.
The statement said the venture will target consumers across segments, including makeup and fragrances, and will witness phased launches.
The products will have differentiated packaging, international quality, and a commitment to celebrating individuality, it said, adding that a global footprint for the new venture has also been contemplated.
Details like the name of the venture or the investment plans were not immediately shared.
Birla’s microlending venture Svatantra Microfin is the second largest NBFC-MFI in the country which has bagged the highest private equity money in the sector. It has impacted over 5 crore lives across 20 states, the statement said.
She also launched a beta version of a homegrown AI platform recently and has been championing the cause of mental health. She has also been a singer and songwriter.
