BEAUTY&YOU is an awards program that aims to discover, spotlight, and propel the next generation of Indian-focused beauty founders, innovators, and creatives.
(BUSINESS WIRE)--The Estée Lauder Companies (ELC) and NYKAA, one of India’s leading omnichannel beauty and lifestyle retailers, announce the winners of the 2023 BEAUTY&YOU Awards in India. Created by ELC’s New Incubation Ventures (NIV) and launched in partnership with NYKAA, BEAUTY&YOU India is an awards program launched in July 2022, with an aim to discover, spotlight, and propel the next generation of Indian-focused beauty founders, innovators, and creatives.
The twenty-seven finalists presented to a jury of leading industry experts including Katrina Kaif, Actor and Co-Founder, Kay Beauty; Bhumi Pednekar, Actor, Investor, Climate Warrior & UNDP Ambassador; Prudvi Kaka, Chief Scientific Officer, DECIEM; Deepica Mutyala, Founder & CEO, Live Tinted; Gaurav Gupta, Couturier, Artist & Designer; Masaba Gupta, Designer, Actor & Founder, HOUSE OF MASABA and LOVECHILD BY MASABA; Anaita Shroff Adajania, CEO, Style Cell; as well as leaders from ELC, NYKAA, Intercos, and Peak XV Partners. The finalists represent a variety of concepts ranging from breakthrough product innovation to re-imagining fragrance and skin care rituals.
The winners, listed below, were announced at an awards evening at Snowball Studios, Mumbai, on November 2, 2023. Winners for the Breakthrough, Create, Grow, Imagine, and Impact categories were independently chosen by our panel of judges through a competitive judging process. Winners for the Community category were determined via an independent voting process on www.beautyandyouawards.com and an analysis of social engagement.
BREAKTHROUGH Category: $50,000 Prize for Innovation in Active Ingredients that Address Key Areas for the Indian Consumer
COMMUNITY: $10,000 Prize for The Best Community Engagement and Support
CREATE Category: $50,000 Prize for The Next Generation of Creative Talent Submitting Work Around the Theme of ‘Experiential Beauty in India’
GROW Category: $150,000 Prize for In-Market Businesses
IMAGINE Category: $75,000 Prize for Pre-Launch Concepts
IMPACT: $50,000 Prize for The Most Innovative Corporate Social Responsibility (CSR) Programming
“This year’s winners represent an exciting mix of entrepreneurs, creative visionaries, innovative scientists, and impact-focused founders — a true representation of the larger beauty ecosystem with the qualities required for long-term success,” said Shana Randhava, Senior Vice President, NIV, The Estée Lauder Companies. “We are excited about the opportunity to mentor and provide support to the winners so they can share their vision with a broader, more global community.”
"This year's BEAUTY&YOU award winners represent the best in innovative, consumer-first thinking that India has to offer, and we are thrilled to support the founders on their journey of building high quality brands for the Indian consumer,” said Anchit Nayar, Executive Director and Chief Executive Officer, Beauty, NYKAA. “At NYKAA, incubating the next generation of beauty entrepreneurs is central to our mission of democratizing access to beauty for all and we are proud to have a partner like The Estée Lauder Companies with whom to achieve this objective."
With over 600 entries from 150 cities, the 2023 application pool included a multitude of beauty brands across categories – skin care, hair care, fragrance, and color cosmetics. Brand, product, marketing, and investment experts from ELC and NYKAA reviewed the entire application pool and shortlisted the ten most promising brands and ideas before selecting winners. The award winners will benefit from access to ELC and NYKAA relationships and expertise across the beauty ecosystem, nurturing emerging ideas that amplify Indian voices and address unmet consumer needs. Among other resources, BEAUTY&YOU India will provide winners with financial support, continued mentorship, increased awareness, and distribution support.
About New Incubation Ventures
New Incubation Ventures (NIV) is the strategic early-stage investment and incubation arm for The Estée Lauder Companies. NIV partners with forward-thinking founders and entrepreneurs to create, fund, and support the best-emerging beauty brands and new business models to shape the future of beauty and build an actionable pipeline of diversified brands and new engines of growth for the ELC portfolio.
About The Estée Lauder Companies Inc.
The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers, and sellers of quality skin care, makeup, fragrance, and hair care products, and is a steward of luxury and prestige brands globally. The company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown Cosmetics, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.
Nykaa (FSN E-Commerce) was founded in 2012 by Indian entrepreneur Falguni Nayar with a vision of bringing inspiration and joy to people, everywhere, every single day. Derived from the Sanskrit word ‘Nayaka’, meaning one in the spotlight, Nykaa has emerged as one of India’s leading lifestyle-focused consumer technologies platforms. Since its launch, Nykaa has expanded its product categories by introducing online platforms Nykaa Fashion, Nykaa Man, and Superstore. Delivering a comprehensive Omnichannel e-commerce experience, Nykaa offers a wide selection of products from over 6,200 brands through its digital platforms and across 150+ retail stores. The Nykaa Guarantee ensures that products available at Nykaa are 100% authentic and sourced directly from the brand or authorized retailers. Through engaging and educational content, digital marketing, social media influence, robust CRM strategies, and the Nykaa Network community platform, Nykaa has built a loyal community of millions of beauty and fashion enthusiasts.
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