Ahmedabad, Aug 13 : Men's cosmetic segments are rapidly expanding in India, Chief Business Officer of Nykaa.com said during a press meet here on Tuesday.
CBO Nihir Parikh said that earlier the men's beauty market in the country was just 5 per cent of the $ 10 bn sized overall beauty products market, but it is now expanding quickly. In the last few years it has grown at a compound annual growth rate (CAGR) of 25 pc.
Nykaa, a beauty products e-commerce company, is diversifying into men’s grooming. It is also tapping the demand for beauty products in the fashion industry and amid professionals such as make-up artistes. It has recently launched a dedicated app 'Nykaa Man' for all male grooming needs.
The company also organised the signature ‘Nykaa Beauty Bar’ event at Ahmedabad one Mall on Tuesday, which allows customers a personalised, one-on-one beauty experience with Indian and International cosmetic brand. (UNI)