MUMBAI: A decade after its launch in India, Swedish fast fashion giant H&M has forayed into the booming local beauty market, widening its play in the country beyond mainstay fashion and home.
Popular with Gen Z and millennials for its fashion-forward clothing that comes with a brand tag and is yet affordable, H&M will tap into the same playbook for beauty as it takes on Hindustan Unilever's Lakme , French brand L'Oreal, Reliance's Tira, Nykaa (both Tira and Nykaa have private labels in beauty & makeup) and scores of other homegrown D2C companies in India.
H&M can leverage its strong brand equity in fashion to grow the beauty business in India, a market which is "pivotal" for the company for its scale, diversity and forward-looking consumer base, said Cathrine Wigzell, global general manager at H&M Beauty .
"We bring a trend-driven, inclusive private-label assortment designed to complement our fashion offering-allowing customers to create a complete look from head to toe. Our strong brand presence in fashion absolutely helps us; customers already know and trust H&M as a style authority, and beauty is a natural step in that journey," Wigzell told TOI.
H&M will sell only its private labels in beauty through its fashion stores and website. With makeup under Rs 799 and perfumes starting at Rs 1,299, the company seems to be targeting the mass affluent segment, a key cohort in India's beauty and personal care (BPC) market which is projected to touch $34 billion by 2028.
"Our positioning is not about exclusivity but about making high-quality, fashion-forward beauty available to everyone," said Wigzell. At H&M's price points, key players in the makeup space are brands such as Lakme and L'Oreal, which have built strong distribution over the years. Besides, omni-channel platforms Nykaa and Tira have also built private labels.
A "significant" part of H&M Beauty's launch portfolio spanning makeup, perfumes and beauty tools has been made locally, though some parts of it will be sourced globally to ensure best quality and innovation.
Popular with Gen Z and millennials for its fashion-forward clothing that comes with a brand tag and is yet affordable, H&M will tap into the same playbook for beauty as it takes on Hindustan Unilever's Lakme , French brand L'Oreal, Reliance's Tira, Nykaa (both Tira and Nykaa have private labels in beauty & makeup) and scores of other homegrown D2C companies in India.
H&M can leverage its strong brand equity in fashion to grow the beauty business in India, a market which is "pivotal" for the company for its scale, diversity and forward-looking consumer base, said Cathrine Wigzell, global general manager at H&M Beauty .
"We bring a trend-driven, inclusive private-label assortment designed to complement our fashion offering-allowing customers to create a complete look from head to toe. Our strong brand presence in fashion absolutely helps us; customers already know and trust H&M as a style authority, and beauty is a natural step in that journey," Wigzell told TOI.
H&M will sell only its private labels in beauty through its fashion stores and website. With makeup under Rs 799 and perfumes starting at Rs 1,299, the company seems to be targeting the mass affluent segment, a key cohort in India's beauty and personal care (BPC) market which is projected to touch $34 billion by 2028.
"Our positioning is not about exclusivity but about making high-quality, fashion-forward beauty available to everyone," said Wigzell. At H&M's price points, key players in the makeup space are brands such as Lakme and L'Oreal, which have built strong distribution over the years. Besides, omni-channel platforms Nykaa and Tira have also built private labels.
A "significant" part of H&M Beauty's launch portfolio spanning makeup, perfumes and beauty tools has been made locally, though some parts of it will be sourced globally to ensure best quality and innovation.
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