Women entrepreneurs are fast looking at entering the organic beauty business for the right reasons
The business of beauty has never known the growth it is looking at currently. The organic beauty market seems to have caught the fancy of the environmentally conscious consumer as well, and women entrepreneurs are making the most of it.
The market is poised only for rapid growth in the coming five years. A market analyst believes that the organic beauty market is going to grow at a rate of 13-18 percent every year and that is more than the US and Europe industry; that means a typical two-fold growth in the next five years crossing the Rs. 1,000 crore mark by 2020.
Experts are also predicting that the global organic cosmetics market will reach $13.2 billion by 2018, which in turn has seen women jumping on the bandwagon all over the world to turn their passion into a thriving business.
In the business of beauty, who else understands the consumer better than a woman entrepreneur herself. Take for example Trishita Mishra and Naman Adlakha who run the organic green Indo-German line of cosmetics and skincare essentials called Omorfee.
The biotechnologist duo has derived all their 90 line of products keeping in mind the genuine need of the female customer.
Speaking of the importance of women entrepreneurs, Surya Uday Bedi, owner, Gulnare Skincare, “Traditionally, the beauty industry has been a female target market. Armed with grandma beauty secrets and their urge to research for more healthy, chemical-free beauty options, women are stepping into the entrepreneurship arena. Essentially, it is more to do with the harmful effects of chemically laced cosmetics that is encouraging more women to seek more natural options for themselves and their families.”
The India Story
The Ayurveda story has its origins in India. So does the organic beauty concoctions, have many stories to tell. Many Indian ingredients have rich beauty benefits and many entrepreneurs are seeing the market ripe to market these ingredient rich organic brands.
Speaking of the challenge of being a female entrepreneur and selling genuinely organic beauty products, Shubhika Jain, owner of Ras Luxury Oils shares, “Getting into organic beauty and putting your heart into is really very personal, as personal as using something over your skin. For someone to successfully run an organic beauty business, one has to be committed to getting the product right, indulge in constant research and development to ensure you maintain the right standards and the product's effectiveness. Also, you cannot comprise on the quality of raw materials. Production is an expensive affair.”
Internet of Things
The play of internet marketing may not help women entrepreneurs too much, is the general consensus of the organic beauty fraternity.
Touch and feel of something as intimate as a night cream is a must for a woman.
Bedi adds, “While internet marketing tools have made it easier to approach customers and potential partners, the beauty space is still one that relies hugely on touch-n-feel. Internet marketing tools serve as a great addition but cannot be the foundation of a marketing model.”
To this, the Adlkakhas uses a more modern approach. Naman continues to make frequent trips to countries where his organic brand has spread wings. His personal visits to exhibitions along with his distributors helps tap target customer that in turns gets a hands-on experience.
“Repeat orders are never a problem once the customer has understood what is being offered to them in full transparency,” Naman adds.
Jain and Bedi both believe that sooner or later, the entrepreneur will have to invest in pop-ups and stand-alone stores “where testers can be made readily available to build trust you’re your target customer. Good quality products combined with word of mouth is key to make a presence in the beauty market.”
Most of the serious organic beauty brand owners believe that self-owned stores are far more effective, "unless we find someone who believes in our philosophy and can work with the same enthusiasm, branching out as entrepreneurs is a big risk to take."