How Women Entrepreneurs Have Dominated The Beauty and Personal Care Sector
Women have been astute in the beauty and personal care sector and have held dominance in the sector
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Women entrepreneurs have become a force to be reckoned with as they have started climbing the entrepreneurship ladder with great pace. Women have been present in the entrepreneurial sphere for a long time but have not been lauded in today's comparison. According to a report by NASSCOM in collaboration with Zinnov, 18 per cent of startups in India are led by at least one woman founder or co-founder. Of these, the number of unicorns and potential unicorns come up to around 36 in 2022.
The beauty sector has been one of the fastest growing sectors in the country. According to a report by Statista, the beauty sector is expected grow at 3.8 per cent compound annual growth rate from 2023 to 2028. The sector suggests suggests that 27.5 per cent of total revenue would be generated via online sales.
Women have been astute in the beauty and personal care sector and have held dominance in the sector. The beauty and personal care has witnessed a lot of women entrepreneurs venture into it. Passionate and looking for a solution, women entrepreneurs are climbing the ladder. A lot of women are venturing into the space in order to find solutions to their very own skin problems.
"Women define beauty, which is not today, but that's how it has been right from the beginning; hence, representing beauty comes naturally to us. As for me, I have spent over two decades of my career investing the first two hours of my day in make-up, creating and portraying a persona time and again, sometimes with a few changes, but always working on putting the best look forward. Hence, building and leading a beauty brand just seemed like the right next step ahead," said Aashka Goradia Goble, co-founder and director, RENEÈ Cosmetics.
The awareness and the validation that women entrepreneurs are getting has been a direct effect of the startup wave in the country. However, women at certain times have it tougher than the men out there.
"I have been always product oriented. I always see it as how you look at the problem and how you decide to solve it. I don't look at things as hurdles as I look to solve the problems on ground each and every single day," said Megha Asher, co-founder and COO, Juicy Chemistry.
With more women taking to entrepreneurship, the ecosystem has been growing by leaps and bounds.