Dhaval Bhanusali: The Indian behind Hailey Bieber's billion dollar beauty play

Time of India

8 hours ago

Live Events
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
MUMBAI: When US-based model and entrepreneur Hailey Bieber reached an agreement in May to sell her skincare brand Rhode to e.l.f. Beauty for $1 billion, within just three years of founding, it added to the bulging roster of celebrity beauty brands hitting the big league. It also brightened the star of Dhaval Bhanusali , the Indian-American dermatologist behind the brand's formulations, who Martha Stewart , another celebrity he has partnered with, memorably called the 'Willy Wonka of derm".Bhanusali, well known and celebrated in dermatology circles and a sought-after practitioner, says there's an "Indian boom" unfolding in the global beauty market. Commonly used Indian ingredients are finding their way into skincare potions lining department store shelves everywhere."Amla and haldi may be ordinary kitchen essentials on Indian shelves that often double up for skin care routine, but that's exactly what is separating the country from western world when it comes to the global beauty market and its 'discovery' of natural ingredients," said Bhanusali.A mix of amla (Indian gooseberry), haldi (turmeric) have been ingredients in many Indian beauty products for generations.But he is referring not just to the use of traditional Indian beauty secrets by cosmetics companies, but also to the increasing muscle of India in the global cosmetic industry, both as a market and also because of the Indian or Indian-origin leaders in their corner offices.Tarang Amin, the CEO of e.l.f., is also an Indian-origin executive.Indians have also taken top jobs at global personal care companies. Leena Nair is the global CEO at luxury and beauty brand Chanel, while Priya Nair is the president of Unilever's beauty and wellbeing business.L'Oreal S.A. and Shiseido, two of the world's largest cosmetics companies, as well as consumer goods giants Unilever and Beiersdorf, the maker of Nivea, have all identified India as a key growth driver, citing the country's burgeoning population and growing affinity for beauty products."I hope it inspires the next generation of entrepreneurs and becomes something that is more and more prevalent," added Bhanusali, an Indian American born to Baroda-based Gujarati parents who migrated to the US five decades ago, referring to the deal.With influencers-turned-beauty gurus popularising products from cleansers and moisturisers to serums and lotions-with many claimed to be either made with natural ingredients or backed by dermatologists-Bhanusali, the New York-based founder of Hudson Dermatology and Laser, expects rise of Indians in positions of influence in the beauty world."My dream is to see an Indian company, go out to the world, as opposed to just coming into India. So maybe one day, but I think it is coming soon," added Bhanusali. "India shifted so much in the last decade or so. It's really come a long way. I am hopeful that it's continuing to become a global powerhouse."According to Redseer, India's beauty and personal care market is expected to reach $34 billion by 2028, driven by rising disposable incomes, deeper e-commerce penetration and growing consumer openness to new products.Globally as well as in India, celebrities and influencers have increasingly shifted from brand endorsements to part-financing consumer products firms or start their own brands and help influence sales.Bieber's reach of 54 million followers on Instagram helped propel Rhode to sales in excess of $200 million in less than three years after she founded it.In India, there are a host of global and digital-first beauty brands and labels, including those launched by celebrities such as Deepika Padukone, Katrina Kaif and Kriti Sanon.