Business · Companies · 3 hrs ago
New Indian beauty brands report sharp revenue growth in FY26
Newer Indian beauty brands reported strong revenue growth in fiscal 2026, with some more than doubling sales.
Foxtale’s revenue nearly doubled to ₹383 crore, while Innovist almost tripled revenue to ₹686 crore.
Nykaa-owned Dot & Key doubled revenue to ₹799 crore, and Pilgrim’s revenue grew 69% to ₹690 crore.
These brands often focus on specific beauty needs and science-backed products, promoted through approaches such as influencer campaigns.
Their growth contrasts with challenges faced by older brands, including Sugar Cosmetics, whose revenue was estimated at ₹300–350 crore in FY26, down from ₹505 crore in FY24.
Competition is pushing brands to keep innovating, while online shopping is helping them reach customers in smaller cities as well as major ones.
New-age Indian beauty and personal care brands reported strong revenue growth in fiscal 2026, with some nearly doubling or tripling sales.
Foxtale’s operating revenue nearly doubled to ₹383 crore, while Innovist’s revenue almost tripled to ₹686 crore.
Nykaa-owned Dot & Key doubled revenue to ₹799 crore, and Pilgrim’s revenue grew 69% to ₹690 crore.
The brands’ growth was attributed to products aimed at specific consumer needs and newer marketing approaches, including influencer-led campaigns.
Some older brands faced slower growth, which industry executives and analysts linked in part to a lack of product innovation.
- Who
- New-age beauty and personal care brands, including Foxtale, Innovist, Dot & Key, Pilgrim and Deconstruct.
- What
- They reported strong revenue growth in fiscal 2026, with some nearly doubling or tripling sales.
- When
- Fiscal 2026, the year ended March 31 for Pilgrim.
- Where
- India. The article also describes growth among shoppers in tier-II and tier-III cities.
- Why
- The article attributes growth to products tailored to niche needs and newer marketing approaches, including influencer-led social media campaigns.
This story does not have two clearly opposing sides.
Sugar Cosmetics reported revenue of ₹505 crore.
Sugar Cosmetics reported revenue of ₹404 crore.
New-age beauty brands reported strong growth; Foxtale’s operating revenue reached ₹383 crore and Dot & Key’s revenue reached ₹799 crore.
Pilgrim’s revenue grew 69% to ₹690 crore.
- Foxtale FY26 operating revenue
- ₹383 crore, up from ₹199 crore a year earlier
- Innovist FY26 revenue
- ₹686 crore, almost triple
- Dot & Key FY26 revenue
- ₹799 crore, double
- Pilgrim revenue
- ₹690 crore, up 69% in the year ended March 31
- Deconstruct revenue
- ₹168 crore, up 32%
What people are saying
We didn't launch too many products throughout the year. Instead, we've continued to build trust in the products that built the brand in the first place,
instead of chasing trends and launching new products
Tier-II and tier-III shoppers are consuming the same content as tier-I users, and the infrastructure of online shopping has solved for accessibility,
New-age D2C brands are capturing demand by focusing on niche segments and solving specific consumer problems, while larger mass-market brands may not be growing as fast,