L’Oréal’s BOLD Fund Invests in Two Indian Beauty Brands

PARIS — L’Oréal’s venture fund BOLD has invested in two Indian beauty brands — Deconstruct and Arata.

“Deconstruct has built a powerful new niche in the Indian skin care landscape, with their remarkable [10-times] growth showing the appeal of their highly effective yet gentle products,” BOLD said in a LinkedIn post. 

BOLD partnered in Deconstruct’s series A round alongside DSG Consumer Partners and V3 Ventures.

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Arata trades in hair care.

“Arata is demonstrating how India-specific hair care solutions and ingredient transparency are speaking strongly to Indian consumers today,” BOLD said.

The fund participated in the brand’s series A round that was led by Unilever Ventures.

India is a burgeoning beauty market and is increasingly in beauty companies’ scopes as a key emerging country. This is especially true since China continues to face economic headwinds and soft consumer spend.

India and China are the only countries worldwide with more than a billion people, and India is projected to become among the world’s fastest-growing luxury beauty markets, according to Kearney. 

The market experienced a double-digit five-year compound annual growth rate of 12 percent yearly to reach $800 million in 2023, according to the consultancy. That growth is expected to speed up to 14 percent annually, to double its market size to $1.6 billion by 2028 and $4 billion by 3035, Kearney statistics show.

India’s overall cosmetics market was valued at $8.1 billion in 2023, and it is expected to hit $18.4 billion by 2032, with a CAGR of 3.2 percent, according to Custom Market Insights.

L’Oréal launched BOLD — Business Opportunities for L’Oréal Development — in late 2018. The fund takes minority stakes in promising start-ups.

Earlier this month, BOLD invested in a series A funding round led by Touch Capital into Korean niche fragrance brand Borntostandout.