Tata Digital preparing to launch a beauty e-commerce platform
By Sanjay Maurya
News Highlights
- In direct competition with Nykaa, Purplle, and MyGlamm, Tata Digital is finalizing plans to create a new e-commerce platform.
- The online store will be different from Tata CLiQ, which also sells apparel and electronics in addition to beauty products.
- By 2025, India’s online personal care and cosmetics industry is expected to be worth $4.4 billion.
In direct competition with Nykaa, Purplle, and MyGlamm, Tata Digital is finalizing plans to create a new e-commerce platform dedicated solely to selling beauty and cosmetics products. The online store will be different from Tata CLiQ, which also sells apparel and electronics in addition to beauty products, and other e-commerce group verticals such as Westside, which sell cosmetics, apparel, beauty, and lifestyle household products online.
Purple additionally raised $45 million in March from notable investors such as Sequoia, Verlinvest, and others. MyGlamm had also received funding from Accel, a large venture capital firm.
Tata Digital is rapidly expanding to capture the digital ecosystem’s fast-moving consumer-facing areas. According to Report, the group sees future deals as a key high-growth platform.
According to the report, the recent developments come as Tata Digital is claimed to have postponed the launch of its Super App while waiting for clarity on the new e-commerce consumer protection standards. Despite the reopening of malls and marketplaces, consumers are continuing to shop online, fueling the beauty and wellness business.
Tata Digital, a wholly-owned subsidiary of Tata Sons, is where the conglomerate’s digital assets are housed. It bought a majority share in online grocery giant BigBasket in May. Following that, it bought a majority position in 1mg, an online pharmacy, and diagnostics company. Following that, Cult.fit, a fitness firm, received an INR 546-crore investment.
Beauty e-commerce Growth
By 2025, India’s online personal care and cosmetics industry is expected to be worth $4.4 billion, according to an Avendus estimate from 2021. According to the survey, online beauty and personal care buyers are expected to more than double from 25 million in FY20 to 110 million in FY25. According to industry analysts, the future of beauty will be an omnichannel experience, with the introduction of a slew of digital technologies to improve user experience.
Additionally, the beauty industry has focused on increasing its internet presence. Nykaa, a beauty, and fashion e-commerce company, just launched The Global Store, to bring international beauty products to Indian customers.
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