Few would know that India's best known beauty brand Lakme was started by the Tata Group.The first cosmetic company of independent India, Lakme founded in 1952. Interestingly, the Tata archives reflect that the catalyst for the beauty business PM Nehru who wanted to rich Indians to stop splurging on imported cosmetics.
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After tying up with two French firms the anglicized version of 'Lakshmi' was born christened as we know it today. The beauty business was spearheaded by Noel Tata's mother Simone Tata who then became Chairperson of the beauty arm which opened it's first salon in 1980. But by 1998 the Tata's had had their share of beauty and sold their stake to the consumer products giant Unilever.
More than a decade after the sale the Tata Group wants to get dressed and be part of the beauty bonanza that Nykaa is now 'hosting'. In an interview to Bloomberg Noel Tata, non-executive chairman of Trent Ltd., Tata Group's retail unit stated, "Beauty products will be “a key focus for us” from now on along with footwear and underwear. Extended product line and experimentation with formats for these products are in the offing as we see these as growth areas in retail.”
Experts estimate that Indian beauty retail market could be worth over $20 billion by 2025.