In Bollywood’s latest plot twist, leading actresses are trading their on-screen glamour for entrepreneurial ambitions in India’s burgeoning beauty market, though success proves more elusive than box office glory.
A recent analysis by PrivateCircle reveals that among seven actress-founded beauty brands, only Kay Beauty, launched by Katrina Kaif in partnership with retailer Nykaa, has managed to turn a profit in an increasingly competitive market valued at $21 billion.
Kay Beauty emerged as the standout performer, with revenues surging 45.83 percent to reach Rs 88.23 crore(approximately $10.6 million) in fiscal year 2024. The brand’s profits jumped 66.17 percent to Rs 11.3 crore ($1.36 million), marking its third consecutive year of profitability since its 2019 launch.
In stark contrast, other celebrity ventures have struggled to find their footing. Deepika Padukone’s 82°E, despite aggressive marketing spending of Rs 19.65 crore ($2.36 million) in fiscal year 2024, reported mounting losses. Similarly, brands founded by Kriti Sanon, Sunny Leone, Lara Dutta, and Anusha Dandekar all operated in the red.
According to the financial statements, shared by PrivateCircle, Sunny Leone’s StarStruck reported a total revenue of Rs 26,872 in FY 24 and Rs 25,100.48 in FY 23, respectively. The company, registered under the name of Suncity Endeavours Pvt Ltd, is the oldest among the actress-owned skincare brands. Launched in 2018, StarStruck posted a loss of Rs 10,304.30 in FY 2024.
Anusha Dandekar’s BrownSkin, which was launched in November 2020, has witnessed an increase in losses by 74.2 percent to Rs 489,290 in FY 24 from 280,721 in FY 23. BrownSkin has been registered as No Bs Lifestyle Pvt Ltd.
82°E (DPKA Universal Consumer Ventures Pvt Ltd), launched in November 2022, reported a 113 percent rise in revenue to Rs 236,624 in FY 24 compared to Rs 110,997.71 in the previous fiscal year. However, the losses plummeted by 6.11 percent to Rs 234,443.18 in FY 24 from Rs 220,935.26 in FY 23. Beauty brand Hyphen by Sanon has reported a loss of Rs 7.2 crore in FY 24. Lara Dutta’s Arias, which also offers clothing and home products, reported a loss of Rs 13.69 crore in FY 23.
“Face value alone isn’t enough to win customer trust in today’s market,” said an industry analyst who spoke on condition of anonymity because they weren’t authorized to speak publicly. This reality is underscored by the success of homegrown direct-to-consumer brands like Minimalist, which reported revenues of Rs 350 crore ($42 million) in fiscal year 2024, more than triple Kay Beauty’s earnings.
The challenges faced by these celebrity entrepreneurs reflect a broader shift in India’s beauty industry, where consumers increasingly prioritize product quality and value over star power. According to Redseer Strategy Consultants, the sector is projected to grow at 10-11 percent annually over the next five years, attracting both established players and newcomers to an already crowded marketplace.
For Bollywood’s leading ladies, the transition from endorsing beauty products to creating and managing their own brands has proven to be a script more complicated than anticipated. Their struggles highlight the stark difference between selling the illusion of beauty on screen and building a sustainable beauty business in one of the world’s most promising markets.