New age consumers growing appetite for Korean Beauty

Pilgrim, an innovative, homegrown D2C beauty & personal care brand that offers native beauty traditions from around the world at the doorstep of consumers has revealed interesting stats on Indians’ love for Korean beauty regimes. According to the brand, young consumers, especially women have a growing affinity towards the latest K-beauty ingredient- 24K Gold. In the latest survey conducted by the brand, 40% women expressed their desire to try products with 24K Gold as the key ingredient. 

The data also showed that while rice water holds the top place (47.5%) amongst the skincare trends that consumers would want to try, 24K gold is quickly catching up with a 38.6% share in consumer preference. The growing wave of K-pop and the Hallyu effect has caused a major uptick in consumers' appetite for Korean beauty regimes. In the past 12 months, Pilgrim has witnessed an 388% growth in month run rate. Out of this, 75% of revenue was driven by their K-beauty range, 25% by the French beauty range before their new launch, and their newly launched Spanish beauty range also contributed to 18% of the revenue in Q1.

Talking about the insights, Gagandeep Makkar, Co-founder & COO, Pilgrim said, “The Korean Beauty regimes have only witnessed an uptick in the past few years. 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.”

Amongst the 24K Gold range, the brand witnessed maximum demand for the 24K Gold Face Serum (38.98%). The demand was driven majorly by metropolitan cities - Bengaluru (13%), Hyderabad (9%) and Delhi (8.5%). Meanwhile, the sales for the second most loved product i.e. 24K Gold Facial Mask drove in from Delhi, Bengaluru and Guwahati. Pilgrim has witnessed an Annualized Run Rate of INR 18 crore within a year of its launch and caters to over 75k consumers pan-India. The brand plans to achieve an Annualized Run Rate of INR 120 crore by December 2022 with an NPS of 50+ across all ranges.