homebusiness NewsIBLA 2023 19th Edition: Katrina Kaif's Kay Beauty recognised as Breakout Brand of the Year
IBLA 2023 19th Edition: Katrina Kaif's Kay Beauty recognised as Breakout Brand of the Year
Within just four years, Kay Beauty has achieved an annualized gross merchandise value (GMV) run rate of over ₹130 crore, a testament to its popularity and the effective strategies employed.
Katrina Kaif's foray into the beauty industry with Kay Beauty has marked a new chapter in her career, blending her passion for makeup with entrepreneurial acumen. This journey has recently been celebrated with Kay Beauty being awarded the Breakout Brand of the Year at the 19th edition of the CNBC-TV18 India Business Leader Awards (IBLA), held in Mumbai on December 2.
Launched in 2019, Kay Beauty, in collaboration with Nykaa, represented a significant milestone as India's first celebrity-owned beauty brand. The brand resonated with its inclusive approach, catering to diverse ages, genders, and skin tones, encapsulated in its empowering tagline, ‘It’s Kay to Be You’. This venture was not just a business endeavor for Katrina but a manifestation of her long-standing passion for beauty and makeup.
Kay Beauty's product range, which includes items like the acclaimed lip crayon, reflects Katrina's commitment to quality and innovation. Her hands-on involvement in product development, focusing on the right ingredients and quality, has been a key factor in the brand's success.
Within just four years, Kay Beauty has achieved an annualized gross merchandise value (GMV) run rate of over ₹130 crore, a testament to its popularity and the effective strategies employed.
Despite the challenges posed by the pandemic, Kay Beauty emerged as a top performer in both offline and online markets. This success is also a reflection of Katrina's deep understanding of the Indian consumer's desires and her ability to fill gaps in the beauty market.
On stage, Katrina Kaif said that the brand is now set to foray into global markets like the US, Dubai, Abu Dhabi. She also mentioned interest for her brand in countries like Saudi Arabia.
The CNBC-TV18 IBLA award for Breakout Brand of the Year is not just a recognition of Kay Beauty's market success; it also celebrates Katrina Kaif's successful transition from a celebrated actor to a successful entrepreneur. Her journey with Kay Beauty has been inspiring, showing that with passion, dedication, and a clear vision, one can make a significant impact in even the most competitive industries.
First Published: Dec 2, 2023 8:38 PM IST
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