In 2019, Karishma Kewalramani launched FAE Beauty with a clear vision—to reshape the beauty industry in India. The name FAE, standing for Free and Equal, reflects the brand’s mission to offer authentic, inclusive beauty products at an affordable price. After her studies in California, Karishma realised that the Indian beauty market needed a brand that catered explicitly to Indian skin tones without the usual restrictions of traditional beauty standards.
FAE Beauty’s mission: Inclusive, Authentic, and Affordable
FAE Beauty isn’t just another beauty brand; it’s a movement towards inclusivity. At its heart, the brand aims to make beauty accessible for everyone—no matter their skin tone, age, gender, or identity. Karishma wanted to challenge the conventional norms of the beauty industry, where many feel left out. FAE Beauty aims to make everyone feel seen and represented, embracing the diversity of Indian beauty.
Honest beauty, no filters
FAE Beauty is transparent in a world where unrealistic beauty standards and edited photos are the new normal. The brand proudly shows unedited product images without lighting or Photoshop tricks to alter the colours or textures. This honesty builds trust with customers, allowing them to appreciate each product as it is.
The brand is vegan and cruelty-free, and every product is made to be as inclusive as it is innovative. Unlike many brands that churn out many products, FAE focuses on releasing only a few carefully crafted items each year.
Karishma Kewalramani’s course from Consultant to Beauty Entrepreneur
Karishma’s journey to creating FAE Beauty wasn’t a cakewalk. Before diving into the beauty industry, she worked as a managing consultant at AT Kearney in San Francisco. While working there, she rediscovered her long-lost love for cosmetics. Returning to India, Karishma pursued her passion by enrolling in makeup school and becoming a makeup artist. She soon realised a glaring gap in the market for beauty products that catered to Indian skin tones.
With the help of friends, family, and mentors, she founded FAE Beauty in 2019 to build a brand for Indian consumers. Today, the brand has raised ₹10.08 crore in seed funding and has been recognised for its unique approach to beauty.
FAE Beauty on Shark Tank India
Recently, FAE Beauty made a splash on Season Four of Shark Tank India and asked for ₹ 1 crore for a 1% stake in the company, valuing the company at ₹100 crores. Over the years, FAE Beauty has exemplified resilience, growing despite challenges. Its financial journey is marked by a “live to die another day” spirit, as quoted by Lenskart CEO Peyush Bansal on the show, turning losses into eventual profitability while redefining the beauty landscape.
Starting with ₹30 lakhs in sales and an ₹80 lakh loss in FY20-21, the company steadily climbed, achieving ₹7 crores in revenue with a drastically reduced loss of ₹80 lakhs in FY23-24. This turnaround paved the way for a remarkable FY24-25, with ₹10 crores in sales and a profit of ₹1.25 crores. Key investments over the years include Arihant Patni’s early backing, strategic funding from Shiprocket, and Titan Capital’s term sheet.
Karishma successfully attracted all the sharks of the tank, except Vineeta Singh of Sugar Cosmetics. She ultimately sealed the deal with Aman Gupta and Namita Thapar. Their ₹1 crore investment for 1.5% equity pegged FAE Beauty’s valuation at ₹66.67 crores, reaffirming its strong potential to become a leader in the Indian beauty market.
What’s next for FAE Beauty?
As FAE Beauty continues to grow, its commitment to inclusivity and authenticity remains at the core of its mission. With plans to introduce new products, expand into new markets, and reach more customers, FAE Beauty is set to become a leading force in the Indian beauty industry.
