Lifestyle International has entered into the beauty segment with its first-ever beauty brand IKSU. The newly launched brand offers beauty products at an affordable price point. While this definitely adds to the competition, the industry feels the beauty segment is on a growth path and more brands entering the space will only add to the choices that consumers get at their disposal. “The Indian beauty market is growing rapidly with the emergence of new brands entering the market. There has never been a better time than this for bringing in newer brands for consumers. It is exciting to see new brands launching their own beauty range, thus giving more quality choices to the beauty lovers, ”said Sukhleen Aneja, CEO – Beauty & FMCG Brands, The Good Glamm Group.
IKSU will offer products that are vegan, cruelty-free, paraben-free, sulfur-free and free from formaldehyde. The brand offers a range of face products including foundations, concealers, blushes, and highlighters. The range also includes eye products like eyeliners and kohl pencils along with vibrant shades of lipsticks and a colorful palette of nail paints starting at Rs 99.
Devarajan Iyer, Vice President – Marketing, Lifestyle International, said that this is Lifestyle’s first-ever makeup brand. “Consumers can expect quality as well as affordability from the IKSU range. With the launch of IKSU, Lifestyle continues to be a one-stop destination for everything from apparel to footwear, accessories, and beauty. ” IKSU products will be available in Lifestyle stores and Lifestyle’s e-commerce website.
Talking about Lifestyle’s foray in the segment, Anuj Kejriwal, CEO & MD, ANAROCK Retail, said, “Launching its own beauty brand makes sense – always keeping in mind that this is an incredibly competitive segment where both national and international players already have established market. share. While Lifestyle definitely has an edge in terms of in-store sales capabilities, it will also need to go to considerable lengths to amplify this product line via e-commerce. Certainly, good quality, range and price competitiveness can be angles that Lifestyle will seek to leverage. ”
Azaz Motiwala, Founder, IKON Marketing Consultants, agreed as he said, “With the emergence of new-age players like Nykaa, Purplle, Sugar and Mamaearth, competition is intensified in the Indian market. However, there are still opportunities for new players like IKSU. The Indian beauty and personal care market is growing at 10% and is likely to reach US $ 30 bln by 2025. ” He also said that new players like IKSU should adopt an omnichannel strategy to win the consumers.
Part of Dubai based retail and hospitality conglomerate – The Landmark Group, Lifestyle offers multiple categories including men, women and kids apparel, footwear, handbags, fashion accessories and beauty.