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The recent spat between the two brands brings to the fore the stiff competition in the largely unregulated skincare industry.

The beauty and personal care company has beaten its own margin target and posted standout volume growth. But with the action shifting beyond flagship Mamaearth, the durability of its momentum remains unproven.
In less than five years, BellaVita has become one of the biggest fragrance brands in India. This has given several others confidence to follow the same playbook and sell cheap perfumes disguised as luxury.
The country’s changing market dynamics are pushing consumer goods giants to acquire young startups. We look at why—and whether—it works for both sides.