Estée Lauder Companies and India’s Ministry of Commerce Partner to Drive Beauty Innovation
In a significant move to bolster India’s burgeoning beauty and personal care industry, Estée Lauder Companies (ELC) has joined forces with Startup India, an initiative by the Ministry of Commerce and Industry. This pioneering collaboration, formalized through a Memorandum of Understanding with the Department for Promotion of Industry and Internal Trade (DPIIT), represents the first partnership between a global beauty leader and Startup India.
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At the heart of this alliance is the expansion of ELC’s BEAUTY&YOU India program. Launched in 2022, the initiative has already drawn over 1,500 applicants from more than 150 cities, offering grants, mentorship, and industry access tailored to various stages of entrepreneurship. The program’s latest evolution introduces a dedicated category for women-founded startups, emphasizing ELC’s commitment to fostering female entrepreneurship and leadership within the beauty sector.
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Get Started NowStéphane de La Faverie, President and CEO of ELC, highlighted India’s strategic importance, citing its rapidly evolving prestige beauty market and dynamic, tech-driven startup ecosystem. He remarked, “We are honored to be the first global beauty company to partner with Startup India to help reimagine the future of beauty by nurturing the next generation of entrepreneurs—especially women, who have long been the backbone of our industry.”
The Indian beauty market is on a trajectory of remarkable growth, with projections estimating its value to reach $21 billion by 2027. This partnership mirrors a broader trend of major beauty players investing in India’s dynamic market, recognizing its potential to influence both national and global beauty trends.
By integrating Startup India’s expansive platform with ELC’s industry expertise, the collaboration aims to create a nurturing environment for emerging beauty brands. This synergy not only provides financial backing but also imparts invaluable mentorship and access to a global network of beauty professionals. Such public-private partnerships exemplify how combined efforts can drive innovation, economic growth, and inclusivity in high-potential markets.
