Deepak's Musings #144: A Look Into Indonesia's & Philippines' Gen Z Beauty Consumers

India luxury market to grown from $17Bn to $90Bn by 2030

Author

Deepak Shahdadpuri
April 15, 2024

I am interested in all things consumer and insurgent brands. In my newsletter, I share what I read, think about, and reflect upon. You can follow me on Twitter at @dishahdadpuri or DSG Consumer Partners at @dsgcp.

p.s. You can click any summary link to read the full article from its source.

Latest DSGCP Perspectives: A Look Into Indonesia's & Philippines' Gen Z Beauty Consumers

At DSG Consumer Partners, maintaining a close connection to our continuously evolving consumers in order to unlock sharp insights is central to how we operate and think. Over the past twelve months, we have invested many hours speaking with consumers in the region. In this article, we invite you to explore the vibrant streets of Indonesia and the Philippines, where a notable transformation is taking place.

In My Glow Up Era: A Look Into Indonesia's & Philippines' Gen Z Beauty Consumers

Empowered by smartphones and perpetually engaged with platforms like TikTok, the dynamic Gen Z cohort is reshaping the Beauty sector. This USD 34B1 industry stands as one of Southeast Asia's most rapidly evolving consumer landscapes, and here's what we have discovered.

Can early-stage brands lead the consumer's comeback?

I received a cold email with a link to this story. What do you think?

The Playbook for the Consumer Comeback

The Playbook for the Consumer Comeback

Serena Williams X Good Glamm = WYN

This has been in the works for over two years, and I am happy to see Darpan Sanghvi deliver on it.

Good Glamm strikes JV with Serena Williams for beauty brand launch in US

The Good Glamm Group and Serena Williams partner to introduce 'Wyn Beauty by Serena Williams' in the US market, following in the footsteps of other celebrity-led beauty brands like JLo Beauty and Skims.

India’s Gen Z want Desi brands

What next for HUL’s portfolio of ice cream brands? Will it have the same reasons to follow suit?

Buy Indian, Bye Western: Gen Z embraces the home truth

Gen Z: The contribution of local brands to total sales of true wireless speakers has shot up to 78% in calendar 2023, compared to 48% in 2020, due to more purchases by youngsters, according to latest numbers from Counterpoint Research.

India luxury market to grown from $17Bn to $90Bn by 2030

We saw this in Russia. We saw this in China. It is India’s turn. According to consulting major Bain & Company, the luxury goods market, which includes personal luxury goods, jewellery, home décor, cars, boats and spirits, is now worth $17 billion in India and is expected to be $90 billion by 2030.

Luxury market in India rides the new wave of affluent buyers

2023 was a record year for India’s luxury market. The affluent population in India is expanding rapidly, with the number of high-net-worth individuals (HNIs) expected to reach 16.5 lakh by 2027, up from 7.9 lakh in 2022. Similarly, the number of ultra-high net worth individuals (UHNIs) could surpass 19,000 by 2027, compared to about 12,000 in 2022.

Is beauty cooling off?

Fantastic insights from a dozen insiders from the beauty industry.

Note: You need a subscription. Sorry.

Ulta Beauty's CEO Says Beauty Is Cooling Off. Should Everyone Panic?

Ulta Beauty CEO Dave Kimbell says the retailer is detecting a steeper beauty slowdown than it anticipated.

Portfolio spotlight: Anveshan

DSG Consumer Partners partnered with Anveshan in 2021. Over the last 3 years, Anveshan has been one of the best-performing companies in our portfolio. In this episode of The BarberShop, Shantanu speaks to Akhil and Kuldeep on their journey to date. Shantanu does a great job peeling the layers and understanding the company’s playbook.

Is Bournvita (and other HFDs) healthy?

As a father of three children, I know my kids prefer sugar beverages. And I am okay with that in moderation. But in reality, Bournvita and other similar drinks are not healthy. So, I am all for better labelling and education. This is not a Mondelez issue but an issue with the industry. Consumers have a right to indulge and consume whatever they want. However, consumers need to be given better information and FSSAI needs to set clear guidelines.

Bournvita, other brands to lose 'health drink' status

E-commerce sites advised to stop labeling Bournvita as health drink due to undefined food laws. Cadbury faced controversy over sugar content. NCPCR, FSSAI investigated. Issue involved misleading elements in packaging, advertising.

📰 Select funding & deal news

Funding and deal news that caught my attention this week

Biolinq Raises $58M for Noninvasive Glucose Sensor

The next step is FDA approval.

Monogram Capital Acquires Majority Stake in Tru Fragrance & Beauty

Monogram Capital Partners, a Los Angeles-based private equity firm, has acquired a majority stake in Tru Fragrance & Beauty, the global beauty brand builder.

Grown Alchemist Completes Change of Ownership

L'OCCITANE International S.A. former Vice-Chairman, former Chief Executive Officer, and existing Board Member, Andre Hoffmann, has acquired a majority stake. At the same time, Grown Alchemist CEO, Anna Teal, has been named a minority shareholder.

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