IN THE CROWDED market of beauty and colour cosmetics brands, direct-to-consumer startup Renee Cosmetics is expecting to double its revenue to ₹350-400 crore by the end of this fiscal. The startup's growth comes on the back of a 10-11% annual growth rate in India's $20-billion beauty and personal care market, which is the fastest in the world, as per a report by Redseer and Nykaa.
In FY24, Renee Cosmetics managed to double its revenue from operations to ₹191.7 crore in its fourth year of business, while losses widened 88% to ₹61.5 crore, mainly because of over ₹100 crore of advertising and promotional expenses.
This story is from the January 06, 2025 edition of Financial Express Mumbai.
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This story is from the January 06, 2025 edition of Financial Express Mumbai.
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