Estée Lauder—and its rivals—turn to India as beauty sales surge

The news: Estée Lauder is boosting investment in India as it looks for pockets of growth to offset its poor performance in China and the US.

• The company is partnering with India’s government to boost local beauty brands. The program, an extension of its BEAUTY&YOU India initiative, offers founders grants, mentorship, and industry access.
• It is also exploring opportunities to manufacture more products locally.

The moves: Estée Lauder is far from the only beauty company to sense opportunity in India’s $28 billion beauty and personal care market. Over two dozen major global brands, including Fenty, Nars Cosmetics, and Rare Beauty, have launched in the country over the past two years, all vying to attract spending from India’s growing middle-class and affluent consumers.