Cosmetics are products that are used to enhance the appearance or to improve the texture and smell of a body. Makeup is one of the most important aspects of cosmetics and has seen a meteoric rise over the years in how the public perceived it and how it is affecting consumer behaviour. Gone are the days when makeup was applied behind closed doors in front of mirrors nor is it just limited to the female gender . Today, social media has successfully managed to strike down the reputation of cosmetics being attributed to only the ladies!
Impact of social media on the cosmetics industry
Before the advent of social media, television and offline media were the prominent avenues to promote makeup and cosmetic products. Not only that, but this was only limited to lipsticks, fairness creams and moisturisers. However, once the internet slowly started becoming available to people all across the globe, it became clear social media platforms have become very powerful tools to push products and services. When YouTube was released, several enterprising individuals realised putting up tutorials on how to apply makeup and use various cosmetics was a very good way to generate revenue.
Today, YouTube is the primary platform for aspiring entrepreneurs in the makeup space, to showcase their skills and gain subscriptions. In a way, it is safe to say social media also managed to empower people to break out of their shells and pursue their entrepreneurial passions. YouTube offered people the ability to make video tutorials and with the recent live feature that rolled out across most social media platforms, influencers and aspiring influencers can directly reach out to their followers and interact with them in real time and answer questions. Facebook and Instagram in particular have evolved into a thriving marketplace where buyers and sellers can connect with each other.
Social media also offered more refined ways to identify target audiences for a particular cosmetic product or service. Social media now has advanced ad targeting tools that let the advertiser have complete control over audience targeting. Information such as age and gender, as well as personal interests, and communication preferences, such as the types of devices they use. Other items that may be relevant include education level, location, and income will refine audience targeting for a particular cosmetic product or a service. The cosmetic industry has evolved into a $ 5.5 Trillion industry since the adoption of social media. India’s cosmetic industry is forecasted to exceed $ 20 Billion by 2025.
Cosmetic startups and entrepreneurs in the 21st century
When we look at the cosmetic landscape on social media now, it is quite easy to find startups offering various beauty and cosmetic products, bloggers making tutorials on how to use beauty products and cosmetic startups trying to adopt greener ways to create their products. Kylie Jenner is probably the most important example of how big cosmetic startups can grow. Kylie Jenner became the youngest billionaire in the world through her startup Kylie Cosmetics. Kylie also uses her social media accounts to do makeup tutorials as well. In India, cosmetic e commerce startup Nykaa is not easy to miss, with a strong online presence and loyal customer base as well as scaling up to open offline stores. Aggregator platform startup UrbanClap successfully provides a platform for beauty, cosmetics and skincare professionals to connect with their customers. Brands like Ustraa, Beardo, The Man Company, Bombay Shaving Company are some popular startups in India that cater exclusively for men, thereby proving that social media has made a visible impact on how cosmetics are perceived.
YouTube has paved the way for self made entrepreneurs who created their own brands. YouTube creators like Jeffree Star, Huda Kattan, James Charles, Tati Westbrook are just some of the prominent entrepreneurs who managed to use the video sharing platform to build their brands. Before becoming YouTube creators most of the influencers mentioned above started out by blogging about makeup. Once they adopted YouTube as a medium to reach out to a wider audience, most of the influencers began by launching their own products on YouTube videos which clicked with their audience. James Charles became famous when an yearbook photo of his in which he sports makeup went viral on Instagram. Charles then pivoted on that fame to launch a successful YouTube channel where he talks about various aspects of makeup.
The cosmetics industry is a constantly evolving space with more and more diverse products and cosmetic verticals popping up day by day. Green products are the current rage in the make up space which gave rise to enterprising Indians to fall back on their roots and come up with Ayurvedic cosmetics. While it is easy to keep on talking about how diverse the cosmetics industry is, there is no denying that the industry is here to stay.
Sonu Sood’s Startup Pravasi Rojgar Secures 250 Crores Funding
Actor Sonu Sood has been in the limelight since the last six months and has become a kind of messiah for the migrant workers in India. It all began when the Indian Government imposed a strict nationwide lockdown in order to check the spread of the COVID-19 virus. This led to an exodus of migrant labourers from cities like Delhi, Bangalore and Mumbai to leave for their hometowns in Bihar and Uttar Pradesh. Since public transportation was also not operating, these migrant labourers decided to walk to their hometowns. This led to a lot of accidents on roads, deaths due to hunger and lack of proper basic resources.
Sonu Sood stepped in to help the migrant workers by arranging private buses and food and ensured these workers returned safely to their homes. Sonu Sood also arranged for private flights to rescue Indians stranded in countries like Dubai and Philippines. Sood helped thousands of people in need by reaching out to them on social media and offline.
In the face of all this adversity, Sonu Sood saw an opportunity and it led to the birth of Pravasirojgar, a startup which aims at getting jobs for the migrant workers. Pravasirojgar aims to provide jobs and career progression to applicants through upskilling services, financial, healthcare and social security services. The job search platform secured a Rs. 250 crore funding from the Temasek Holdings backed, Goodworker.
Launched in a partnership with the edtech startup Schoolnet India, in July this year, Pravasi Rojgar helps migrants to find skill based jobs across sectors and has 10 lakh job seekers and employers including Amazon, Max Healthcare, Portea, Sodexo, Urban Company etc. Goodworker provides blue collar workers with a digital and verifiable profile to make their job search easier and also to make their credentials authentic which will make employers more likely to hire the workers.
Sonu Sood at the launch of Pravasi Rojgar said “I came in touch with a lot of migrant workers during the lockdown and they all had one concern, how to get a job after the lockdown and support their families. With the blessing of these workers and their families and other well-wishers, I tried to get the right-minded people and partner with Schoolnet for Pravasirojgar.com (sic.)”
We sincerely hope Sonu Sood continues to keep doing the good work he is doing for migrant workers. Sonu Sood has gone on to prove how opportunity can be found in the toughest of situations and also contribute to the upliftment of the needy.
The Story Of Milkbasket And How It Navigated The COVID-19 Pandemic Lockdown
India as a nation is primarily agrarian and most of the economic contributors are agriculture and dairy. Indians consumed a whopping 77.7 million metric tons of cow milk in 2019 alone and that puts it at the largest consumption in the world. The next largest milk consumption was in the European Union with a consumption of 33.4 million metric tons. Therefore it is only natural for a startup to utilise the opportunity existing in the delivery of milk and that led to the founding of Milkbasket. Subsequently, the market was flooded with players like Ninjacart, BigBasket backed RainCan and Swiggy backed SuprDaily.
While Milkbasket currently operates in cities like Delhi, Gurgaon, Ghaziabad, Noida, Bangalore and Hyderabad, it was not always the case. Milkbasket was founded in 2015 in Gurugram by Yatish Talavdia, Anurag Jain, Ashish Goel and Anant Goel. Milkbasket originally began by delivering milk and other essentials in Gurugram to around 15,000 families before expanding into various cities. However, Milkbasket did not dive into the business just because they saw an opportunity, instead they did a lot of research into consumer purchasing and psychology, before coming up with a business model and this research yielded some interesting insights.
The crux for the business model was the quintessential question in every Indian household which is “Child, what do you want to eat for tomorrow?” This led the founders to understand that Indians usually plan their meals for the next day between 7 P.M. to 10 P.M. the previous day. Therefore Milkbasket decided to offer their deliveries before 7 A.M. in a contactless, easy and pre paid manner. Moreover, the four founders studied the newspaper chains who made a profit even when selling for a low cost. Furthermore, the founders interacted with various grocery store owners and found out although milk contributed to a large volume of sales, there was not much profit margin there. However, these grocery stores made a profit by selling other products along with the milk. The idea was the milk attracts the customers but it led them to purchase other products along with the milk. Therefore Milkbasket also decided to do the same, which is to sell milk but also hold an inventory of other staple products.
Milkbasket set itself apart from other players by offering no minimum cost delivery and also streamlined delivery in a manner which creates the least disturbance for the customers. From low shelf life products such as milk, fish, and fruits to daily essentials such as wheat, rice, and pulses, Milkbasket fulfils households complete grocery requirements.
Having started with just a hundred products in its inventory, Milkbasket now has 9000 products on its platform and caters to 1,50,000 across the country. The startup delivers 80,000 litres of milk and 100,000 kg of vegetables and fruits daily.
Navigating the COVID-19 lockdown:
India declared a nationwide lockdown on March 24th, 2020 which extended till the end of August. The lockdown saw thousands of businesses go bust because of logistical issues and also due to the almost zero demand from consumers. During the initial period when the lockdown was first imposed to curb the spread of the virus, Milkbasket witnessed a surge of 200-300 % in order volume from its customers.
Milkbasket took two important decisions to cater during the lockdown with the first one being an inventory cap for every customer purchase so their customers do not hoard products. The second one being the decision to stop onboarding new customers and instead serve their existing customer base. This has also led to strong customer loyalty as well as improvement of sales from existing customers.
Milkbasket goes on to prove that customer satisfaction should always be at the forefront of any business. If Milkbasket does not lose sight of their goal then it is only going to grow from here on out.
Indian Actresses Who Have Made Recent Investments In Startups
Any startup which begins with an idea will look to nurture it and develop it into a viable product. This is followed by lots of testing with focus groups, until a final version of the product is ready. However, most startups are more often than not bootstrapped and therefore run on a very stringent budget. Therefore, startups often look to attract an investor for a fresh influx of money and also to scale up. While there are many venture capital firms which are always on the lookout for exciting startups, Indian movie celebrities are also known to invest in promising startups.
In this article, we give you a list of leading Indian actresses who have invested in startups recently.
1) Deepika Padukone
Deepika Padukone is one of the most alluring actresses of this generation. Deepika invested in the popular yoghurt company Epigamia last year. Her latest investment is into the learning and communication platform Frontrow. The actress was joined by marquee investors like Lightspeed and Elevation Capital to invest $3.2 million in the startup. Frontrow’s learning platform focuses on creative arts and sports and that is what attracted Padukone’s investment in this startup.
2) Kajal Aggarwal
Kajal Aggarwal picked up a stake recently in the gaming platform called Okie Gaming. Kajal will be helping the startup in its promotions, marketing and PR and to attract new users to the platform. Aggarwal picked up a 15% equity stake for an undisclosed amount of money.
3) Alia Bhatt and Katrina Kaif
Alia Bhatt invested an undisclosed amount in the beauty and cosmetic startup Nykaa. Earlier in May 2020, Nykaa raised Rs. 100 crore ($13 million) from Steadview Capital, one of its existing investors. Katrina Kaif also invested in Nykaa and also has her own line of products called Kay Beauty.
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4) Aishwarya Rai Bacchan
Aishwarya has been ruling the Indian movie industry since a long time, but has taken a step back from the limelight after her marriage to Abhishek Bachchan. However, the actress has not been idle and has instead redirected her efforts to invest in promising ventures. Aishwarya Rai Bachchan along with her mother Vrinda became angel investors in 2019. They invested in Ambee, an environmental intelligence startup, which monitors air quality by gathering data– and have already installed over 100 sensors in Bengaluru.
5) Priyanka Chopra Jonas
Priyanka Chopra invested in the social networking and dating application Bumble in 2018 which was before Bumble had a presence in India. While Bumble’s parent company MagicLabs was acquired by American based Blackstone, it is not confirmed whether Priyanka Chopra’s stake was bought out. Priyanka Chopra continues to be involved with Bumble for their branding assignments.
6) Shilpa Shetty
Shilpa Shetty invested Rs. 1.6 crores in the fast moving consumer goods company Mamaearth which produces and sells skincare, haircare and babycare products.
While this is just the list of actresses who have made recent investments in startups, there are a lot of movie celebrities who have invested in startups across the globe. The startup ecosystem in India can take heart from the fact that movie stars are willing to align their brand with startups. The future most definitely holds exciting prospects to see into what startups celebrities will be investing.
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- The Story Of Milkbasket And How It Navigated The COVID-19 Pandemic Lockdown
- Indian Actresses Who Have Made Recent Investments In Startups
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