- DPIIT and Estée Lauder enter MoU for the development of India's beauty and personal care industry
- The collaboration is expected to spur innovation and fund new beauty entrepreneurs
- The collaboration is aimed at providing impetus to women entrepreneurs in India's beauty industry
DPIIT entered into a Memorandum of Understanding (MoU) with Estee Lauder Companies Inc a multinational cosmetics company based on New York marking a significant milestone in the beauty and personal care industry in India.
Estee Lauder owns some of the most prestigious beauty brands in the world, including MAC, Clinique, Bobbi Brown, La Mer, Estée Lauder, and Jo Malone London. It is a conglomerate leading in hair care, fragrance, make-up, and skin care with presence over 150 nations.
Having presence in over 150 countries, the company is the market leader in the hair care, fragrance, make-up, and skin care category. By virtue of its business venture nature, BEAUTY&YOU India, ELC has been empowering those entrepreneurs who are going to define the future of the Indian beauty market.
The newly inked MoU will merge Startup India's national platform with ELC's BEAUTY&YOU India initiative, providing funding, mentorship, industry experience, and global networking opportunities to Indian beauty startups. One of the unique features of this tie-up is the creation of a special category for women-led startups, in keeping with Estée Lauder's emphasis on gender diversity and the empowerment of women leaders.
On the day of signing, DPIIT Joint Secretary Shri Sanjiv pointed out the rapid growth of India's beauty market and the significance of such partnerships in fostering entrepreneurship. He expressed that the union would open up new opportunities for future brands and increase India's footprint in the global beauty sector. Rohan Vaziralli of Estée Lauder was excited to expand BEAUTY&YOU India and emphasized their commitment to supporting founders, particularly women-led startups.
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