POPxo, a social community platform for women, has entered the $20 Bn Indian cosmetics segment.
Dubbed as the POPxo Makeup Collection by MyGlamm, the new range will include nail kits, face kits, eye kits and lip kits in an attempt to cater to all make-up needs. The entire range will reportedly be priced under INR 499 per product in order to remain affordable for younger women.
The development comes almost a year after MyGlamm acquired POPxo as an attempt to strengthen its content-commerce play..
According to a company statement, apart from being sold on the company stores and kiosks across the country, the collection will be also be available on the MyGlamm website and app, as well as on Amazon, as MyGlamm looks to tap into the D2C rush through POPxo.
With the co-branded offering, MyGlamm will be looking to tap into POPxo’s 60 Mn monthly active users as potential customers.
The development comes a few days after MyGlamm launched the Good Glamm Group in a bid to consolidate its position as a ‘Digital House of Brands’ powered by a content-to-commerce strategy.
Just earlier this week, MyGlamm also announced top up in its Series C fundraise with INR 255 Cr fundraise. In July this year, it closed a Series C funding round at INR 530 Cr ($71 Mn), with investments from Accel and existing investors.
The group has earmarked an INR 750 Cr war-chest to make strategic investments in innovative beauty and personal care brands said a company statement. In August, MyGlamm had also acquired parenting platform BabyChakra to bolster its 3C (Content + Community + Commerce) play.
Initially launched as marketplaces for cosmetics, today, MyGlamm claims to offer 800+ cruelty-free and vegan beauty products in cosmetics, skincare, and personal care categories. Apart from its website, it also sells its products via 10,000 offline points of sales across 70 cities in India.
The $20 Bn Indian Cosmetic Industry
The Indian beauty and personal care market is expected to touch $37.2 Bn mark by 2025. Out of which, the online market opportunity is pegged at $5.4 Bn. In terms of cosmetics, the market is expected to be worth $20 Bn by 2025 providing a massive opportunity for existing and new brands. . Indian giants Tata Digital and Reliance Retail are also reportedly entering the market.
Other players in the beauty and personal care space include — Nykaa, Purplle, SUGAR amongst others.
In 2020, Mumbai-based omnichannel beauty retailer Nykaa became the first beauty and personal care sector startup to defy the pandemic and become a unicorn. In 2021, the beauty unicorn filed its DRHP with the SEBI to raise INR 4,000 Cr.
The D2C market holds great potential for FMCG products. Where popular beauty brands like Revlon and Lotus took 20 years to reach the INR 100 Cr revenue mark, new-age D2C brands like Mamaearth and Sugar took four years to achieve the same.
Also, 67% of Indian online shoppers belong to the 18-34 age group. POPxo’s target audience is mainly women belonging to this exact age group.