“4 Failed Businesses, ₹50 Lakh Lost,” Says The Ludhiana Couple Who Now Leads A Premium D2C Beauty Brand; Clocked ₹4 Cr Revenue Last Year

In the heart of New York City, where career ambitions soar and financial security is a given for those who work hard, a young couple, Akshay Oswal and Aarushi Oswal, were living the life many aspire to.

Akshay, an accomplished biotechnology post-graduate from Case Western Reserve University in Ohio, had secured a lucrative consulting job in the city.

Aarushi, meanwhile, was carving her niche in the beauty industry as a successful makeup artist, leveraging her expertise in cosmetics to build a growing clientele.

Yet, despite the stability and opportunities that life in the United States offered, Akshay felt a pull—one that many first-generation immigrants experience—the desire to return home and build something of their own.

Akshay felt the urge to start something meaningful in India, to be closer to his aging parents, and to create a business that would leave a mark.

In 2014, after much deliberation, the couple made a life-altering decision: they would leave their well-established careers in the US and return to Ludhiana, their native land in Punjab.

It was a risky move, filled with uncertainty, but for Akshay, the calling was clear. He didn’t just want to join his family’s generations-old business; he wanted to forge his unique path.

THE ROCKY ROAD TO ENTREPRENEURSHIP:

Returning to India was just the first step in Akshay’s entrepreneurial journey.

Over the next few years, he experimented with multiple business ideas, venturing into industries from clothing to tourism and tech, but nothing quite took off. Notably, he attempted four distinct business ventures, ultimately losing around ₹50 Lakh.

“I faced multiple failures in my entrepreneurial journey. There were many moments when I felt completely lost. There was always an easier option to join the family business, but I wanted to prove myself independently,” recounts Akshay Oswal, the co-founder & CEO of Océglow, during an exclusive interview with Startup Pedia.

On the other hand, Aarushi continued to thrive as a makeup artist, this time in India. Her understanding of the beauty industry deepened, and she became a trusted name in the industry. She also built a strong social media presence, which would prove invaluable later.

Despite the setbacks, the couple remained undeterred.

Their breakthrough came in July 2019 when they combined their strengths—Akshay’s scientific knowledge and Aarushi’s beauty expertise—to launch Océglow, a premium beauty & skincare brand inspired by Korean beauty innovations but crafted for Indian skin.

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THE INITIAL JOURNEY OF OCÉGLOW:

With an initial investment of ₹18 lakh from their savings, Akshay and Aarushi began researching the Indian beauty and skincare market.

They noticed a significant gap: while international brands offered advanced, clinically proven skincare formulations, they were often expensive and not tailored for Indian skin types.

Conversely, local brands lacked the sophistication and scientific rigor of global luxury products.

Océglow was born with a vision to bridge this gap—introducing high-performance, marine-based skincare formulations that combined the elegance of Korean beauty with the needs of Indian consumers.

The brand name itself is a fusion of “Ocean” and “Glow,” symbolizing the brand’s commitment to marine-derived, skin-nourishing ingredients.

Their first product, the Océglow Water Cream, was launched in January 2020 after extensive research & development in South Korea. It was designed as a lightweight, hydrating solution that catered to the unique challenges of Indian skin, such as humidity, pollution, and sensitivity.

But just as they launched, the world was hit by an unprecedented crisis—the COVID-19 pandemic. Launching a startup amid a global pandemic seemed like the worst possible timing.

The supply chain was disrupted, retail stores shut down, and consumer spending plummeted. For many businesses, it was a period of survival. But for Océglow, it turned out to be a moment of unexpected opportunity.

Instead of holding back, Akshay and Aarushi doubled down on digital. They focused on a D2C (Direct-to-Consumer) strategy, leveraging their website and social media to reach customers directly.

Aarushi played a crucial role in marketing their first product.

“I knew social media would be our biggest asset. I used my platform and a large follower base to educate customers about skincare and introduce them to Océglow,” Aarushi Oswal, the co-founder & COO of Océglow, shares with Startup Pedia. 

The response was phenomenal. Customers resonated with the brand’s luxurious feel, scientifically backed formulations, and affordable pricing compared to international luxury brands.

In just one year after starting the business operations, Océglow achieved an annual revenue of ₹60 lakh and served over 13,000 customers.

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OCÉGLOW’S PRODUCTS IN DETAIL:

Encouraged by the early success, Akshay and Aarushi focused on scaling their business.

Over the next few years, Océglow expanded its product line to include a range of 15+ beauty products, including face washes, serums, sun gels, eye creams, and peel-off masks.

By the end of the last financial year, Océglow crossed ₹4 crore in revenue.

"Our flagship product, the Océglow Water Cream, has garnered a large and devoted following among our customers, solidifying its position as our best-seller," shares Aarushi with pride.

Océglow’s rise in the competitive Indian beauty market can be attributed to several key factors:-

> Science-Backed Formulations: Akshay’s biotechnology background ensured that every Océglow product was scientifically formulated with marine-based, clinically tested ingredients.

> Luxury Experience at Affordable Prices: Aarushi’s expertise in beauty and wellness helped create products that looked, felt, and performed like premium international brands, but at an affordable price point.

> Digital-First Approach: The brand leveraged its website, social media, and e-commerce platforms like Amazon, Tira, Nykaa, and Myntra to drive sales while relying less on traditional retail.

> Authenticity & Community Building: Aarushi’s social media influence helped establish trust with consumers, giving Océglow an organic, loyal customer base.

THE GOALS AHEAD:

The couple has ambitious plans for the future. By the end of the current financial year (2024-25), they aim to reach ₹6 crore in revenue, with further expansion into international markets.

Océglow's achievement of serving over 1.5 lakh customers underscores its significant impact and growing popularity within the Indian beauty market. 

Key focus areas for the near future:-

> Retail Expansion: Setting up exclusive experience stores where customers can touch & feel the products before buying.

> Quick Commerce: Entering platforms like Blinkit, Zepto, and Swiggy Instamart for instant deliveries.

> Global Expansion: Expanding into the Middle East, Canada, and the US, tapping into the growing demand for Indian beauty brands.

> Sustainability & Innovation: Investing in eco-friendly packaging and more sustainable formulations.

> IPO Aspirations: In the long run, the couple envisions taking Océglow public.

From a couple who left behind the comfort of the American Dream to entrepreneurs who failed initially and ultimately built & grew a small startup into a multi-crore national brand, from a tier-2 city, Akshay and Aarushi’s journey is nothing short of inspirational.

As the Indian beauty and cosmetic market is projected to reach $34 billion by 2028, Océglow is positioned as a rising star in the Indian startup ecosystem.

For Akshay and Aarushi, this is just the beginning of their dream to create an iconic Indian beauty brand that competes on the global stage. Their story is a testament to the power of resilience, innovation, and adaptability.