Earnings and progress: RENÉE Cosmetics targets Rs 500 crore revenue and 2,500 stores by 2026

Indian consumer preferences are changing rapidly, signaling a new era in the beauty and personal care industry. Once dominated by global giants, the market is now tilted in favor of local brands, who are redefining the narrative through a deep understanding of local needs.

“Indian consumers are engaging with local brands because we understand their preferences better,” says Ashutosh Valani, co-founder of homegrown cosmetics brand RENÉE Cosmetics.

Valani, who previously co-founded Indian men’s grooming brand Byrdo, says the brand offers high-quality, innovative and affordable products tailored to meet regional requirements, providing a personalized experience that global brands often cannot match.

Started in 2018 in Ahmedabad by Valani, actor-entrepreneur Aashka Goradia, and Priyank Shah, RENÉE Cosmetics is backed by Edelweiss and has raised $48.5 million to date, according to data from market intelligence platform Traxcn.

RENÉE Cosmetics is part of a growing portfolio of Indian cosmetics brands such as Sugar Cosmetics and Lakmé, which appeal to value-conscious customers aged 18 to 35 years. In a conversation with Business Today, Valani revealed that RENÉE had positive EBITDA as of Q3 FY25, with revenue of Rs 200 crore in FY24. This milestone underscores the brand’s ability to leverage From its distribution and digital channels to establish strong connections with customers.

Unlike many competitors who rely on foreign manufacturers, RENÉE partners with external experts in India to produce most of its products. “Local manufacturing ensures strict quality control, supports local industries, and helps us maintain high standards,” Falani explains. “We are proud to be one of the few brands that is on track to achieve profitability within just seven years of its inception.”

RENÉE’s growth story is driven by a strategic mix of digital and offline channels. While 20% of its sales come through its official website, 45% are generated through e-commerce marketplaces, and 35% through offline channels. The brand plans to expand its offline presence to 2,500 stores in the next 12 to 18 months, strengthening its foothold in the market.

Valani points out that the brand is prioritizing a minimalist portfolio of approximately 750 stock keeping units (SKUs) across categories like lips, eyes, face, nails and fragrance. “By focusing on fewer high-impact products, we ensure operational efficiency and avoid capital-intensive inventory build-ups,” he says.

RENÉE Cosmetics has infused Rs 150 crore so far. Valani said the company has no immediate plans to venture into men’s grooming under the RENÉE brand. Instead, the focus remains firm on innovation, quality and customer satisfaction.

According to a beauty trends report released by Indian retail platform Nykaa in partnership with consultancy RedSeer, the beauty and personal care market is expected to reach US$34 billion by 2028, driven by online penetration of core beauty categories.

“Our goal is to become the number one makeup and beauty brand in India,” asserts Valani. With our commitment to understanding and meeting the needs of Indian consumers, we are confident of achieving this vision. RENÉE aims to cross revenues of Rs 350 crore by FY25, and has an ambitious target of reaching revenues of Rs 550 crore by FY26.

As the beauty landscape continues to evolve, RENÉE Cosmetics exemplifies how local brands are not only keeping up with the pace, but leading with agility and innovation – a trend that is here to stay.