Competition in the beauty ecommerce space is heating up with the recent announcement from Amazon Beauty. The company is set to launch the Global Beauty Store, which will feature a carefully curated collection of over 60 international beauty brands and more than 5,000 products.
The Global Beauty Store will have its own dedicated storefront within Amazon’s main ecommerce platform. It will showcase a wide range of products from renowned beauty and cosmetics brands such as Paula’s Choice, Farmacy, Anomaly, Caudalie, L’Occitane, CosRX, Laneige, Innisfree, Makeup Revolution, Chopard, Paul Mitchell, and many more.
Zeba Khan, Director of Beauty, Personal Care, and Luxury Beauty at Amazon India, expressed enthusiasm for the launch, stating, “This momentous occasion marks a significant stride in our quest to provide extraordinary beauty experiences to our valued customers. In an era where discerning consumers constantly seek niche international beauty brands that can conveniently reach their doorstep, our commitment to source luxury beauty products from esteemed global brands remains steadfast.”
Amazon’s expansion into the beauty segment comes as no surprise, considering its previous initiatives in the industry. Last year, the company introduced Amazon’s The Beauty Sale, featuring offers from over 140 brands, during the festive season.
However, Amazon will face strong competition from established players in the pure play beauty marketplace, such as Nykaa and Purplle. Additionally, Mukesh Ambani’s Reliance made its entry into the segment earlier this year with the launch of its omnichannel platform, Tira. Reliance Retail further bolstered its presence by opening its flagship Tira store in Mumbai.
Industry experts highlight the significant growth potential in the online beauty products and cosmetics market, with an annual growth rate ranging from 20% to 25%, surpassing the offline segment’s growth rate of approximately 8% to 10% per year.
