New Delhi, Apr 15 (PTI) Ananya Birla has launched colour cosmetics brand LOVETC, expanding the presence of Aditya Birla Group in the fast-growing cosmetic segment in India.

This follows the launch of Contraband by Birla Cosmetics earlier this year as per its expansion plans into the segment.

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"LOVETC aims to fill the gap for high-performance, homegrown beauty products in the Indian market," said a statement issued from the Office of Ananya Birla, part of the Aditya Birla Group.

The company's foray into colour cosmetics is part of its long-term vision to build a dynamic beauty portfolio, leveraging deep consumer insights and expertise in delivering product excellence.

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Ananya Birla is the daughter of billionaire Kumar Mangalam Birla and founder and Chairperson of Birla Cosmetics.

India's beauty market, valued at USD 629.42 million in FY2024, is projected to more than double to USD 1.3 billion by FY2032.

"With a strategic and consumer-first approach, we are poised to capture a 5-8 per cent share of India's rapidly expanding cosmetics market, leveraging our expertise to drive meaningful impact and long-term growth," she said.

LOVETC's launch portfolio includes advanced lipsticks, long-wear eyeliners, and volumizing mascaras. It has signed actor Janhvi Kapoor as LOVETC's brand ambassador.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)