Indian consumers want K-Beauty, gold: D2C beauty brand Pilgrim
Indian women are keen to try Korean beauty trends, especially rice water and 24 carat gold, direct-to-customer beauty and personal care brand Pilgrim found in its latest survey, as it eyes an annualised run rate of Rs 120 crore.
A total of 40% of women aged 21 to 40 expressed a desire to try beauty products with 24 carat gold as the main ingredient in Pilgrim’s latest survey, the brand announced in a press release. The brand has launched a line of K-beauty inspired 24 carat gold products including face serums and face masks and has seen strong uptake in metro locations.
This strong product uptake has led the business to predict that it will achieve an annualised run rate of Rs 120 crore by December 2022. Pilgrim has seen Bengaluru and Delhi register its highest sales for metros and Guwahati register the strongest sales amongst Tier 2 locations.
Over the past year, Pilgrim has witnessed an 388% growth in its monthly run rate, according to the brand. The brand’s K-beauty range contributed 75% of its total revenue in the 2022 financial year, showing the importance of Korean inspired products in the current market.
“The Korean Beauty regimes have only witnessed an uptick in the past few years,” said Pilgrim’s co-founder and COO Gagandeep Makkar in a press release. “Millennials and Gen Z consumers have a growing appetite for global beauty traditions and are now more than ever willing to invest their time, money, etc., in learning and imbibing these native traditions into their lives. The new 24K Gold range is a result of consumers growing demand to dive deep into Korean beauty secrets. Our previous K-beauty range has witnessed a steady increase in demand not just from metro cities but also from tier-2 markets and we are confident that the trend will continue for the new 24K Gold products.”
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