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If a thing of beauty is a joy forever, people in the beauty business are experiencing this joy like no one else. For the once non-existent beauty industry is today worth millions of dollars thanks to the urge to look good, rising disposable incomes and increasing exposure to global fashion and lifestyles.

So, while you have Olay launch in India, you also have Yash Birla invest in a joint venture for a holistic healthcare company that is currently scouting for suitable locations for its spas. The

Future group is readying to launch its line of spas across cities by Septembaer this year and VLCC plans to announce an IPO later this year.

The figures are impressive, too. While the World Beauty Report 2006, pegged Indian healthcare and services industry at Rs 2,280 crore, last year Euromonitor International, a global market intelligence firm, put the Indian skincare industry at Rs 1,272 crore.

Closer home, industry chamber CII estimated that the beauty and cosmetics market in India was worth Rs 4,500 crore in 2005 and is growing at 20% per year. The colour cosmetics market comprising lip care, nail polish and make-up is worth Rs 800 crore and is growing at 30% per annum.

According to the CII estimate, there were 61,000 saloons in the top 23 cities and towns (those with a population of one million and above), and the organised domestic saloon market alone was estimated to be worth Rs 1,000 crore, growing between 20% and 25%. The top-end salon market worth Rs 400 crore is growing at 30% annually.

The ayurvedic herbal care products market comprising skin care, toiletries, hair care and body care was estimated to be worth around Rs 2,500 crore and the herbal cosmetics market was valued at Rs 450 crore.

“Today, awareness of beauty products, treatments and grooming is at an all time high,” says herbal beauty expert Shahnaz Husain. The beauty business has evolved through several stages as have Indian customers, she says matter of factly.

In fact, things are changing dramatically. Companies that were into services are introducing products and vice-versa. For example, VLCC, which began as a slimming centre, launched its product line in 2002 and a variety of these have been occupying shelf space at malls and shops.