Small lipstick wonders: India's beauty fix comes in minis and Lakme's ready to cash in
Also Read: India's luxury retail takes a quantum leap
While mass affordability is a key reason for the rise of small packs, their role in boosting on-the-go use and product trials has been equally important. Khaitan believes that all major brands will begin to bet more on this format. She pointed out that make-up penetration in India is still under 30%, which means there is significant headroom for growth.
One major driver of this trend is the rise of quick commerce platforms. According to Khaitan, people are now stocking up on essentials like kajal and nail polish remover through apps like Swiggy and Zepto. She said the ease of access and speed of delivery is helping to expand adoption of make-up products.
Khaitan also acknowledged the role of what is known globally as the 'lipstick index'—a term coined to suggest that people may still spend on small luxuries like lipstick even when the economy is down. 'Aspiration and beauty expression have not seen a slowdown. It has become stronger post-Covid but we have to be at the right place and at the right price. People have bought our lipstick costing Rs 1,100 through quick commerce and that left me amazed. I would agree with the lipstick index,' said Khaitan.
Also Read: Time for an Indian beauty brand to go from East to West: Birla Cosmetics' Ananya Birla
With competition intensifying due to the entry of numerous new-age and international brands, there has been some effect on the market share of larger players. But Khaitan said the bigger challenge is staying relevant.Lakme, which is part of Hindustan Unilever (HUL), is positioning itself to tackle this challenge by making make-up more accessible and bringing global trends to Indian consumers at affordable prices. Khaitan added that the brand is also investing heavily in digital platforms, because that is where today's consumers are.
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