The story of becoming ‘Lakme’ from Lakshmi, when Tata started the beauty brand at the behest of Nehru, the name ‘Lakme’ got from Love Story
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Lakme started with Tata to remove Nehru’s concern
India got independence in the year 1947, but the economy was passing through a critical phase. Like the rest of the business, the Indian cosmetic market was also dependent on foreign brands. This concern was troubling Prime Minister Jawaharlal Nehru. People especially women were buying imported cosmetic products. Worried about this, the then Prime Minister Jawaharlal Nehru called his friend JRD Tata.
JRT Tata laid the foundation of Lakme
He told JRD Tata that the country’s money is going abroad. Foreign exchange reserves are getting affected. He should do something about it. At that time there was no cosmetic brand in India. Tata had understood the demand of the market. Because at that time there was almost no competition in the cosmetics market within the country. After which in the year 1952, he laid the foundation of Lakme, the country’s first indigenous cosmetics company.
Simone Tata’s entry in Lakme
Lakme started from a small rented premises on Peddar Road in Mumbai. Lakme had now entered the market. In 5 years itself, its color started climbing on the people. By the year 1960, the company started feeling the need for a bigger campus. After the launch of Lakme, the import of foreign beauty products almost stopped in India. To make the brand bigger, Tata gave its responsibility to Simone Tata. Simone Tata was the wife of Naval H Tata. In the year 1961, he was made the Managing Director of Lakme. Since Simone grew up in Geneva, Switzerland, she is well-versed in beauty products.
Lakme handed over to Hindustan Unilever
Simon Tata took Lakme to great heights. In the year 1980, Lakme opened its first branded beauty salon. Simon remained on the post of Tata chairman till 1982. In the year 1993, Tata and Hindustan Unilever made a 50:50 partnership in Lakme. In the year 1998, it took over the entire stake of Lakme from Hindustan Unilever. Tata handed over Lakme to Hindustan Unilever with the thought that it would be able to do better justice to it in future.
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