From Wholesale Roots to a D2C Beauty Brand: Drishti Madnani on Building Shryoan Cosmetics for Indian Women
📝InterviewsDrishti Madnani talks about building Shryoan Cosmetics, transitioning from cosmetic wholesaling to a D2C beauty brand, and creating affordable, high-quality makeup designed for Indian skin tones and everyday confidence.
The Indian beauty and personal care industry is growing rapidly, with the market expected to surpass $30 billion by the end of the decade, driven by Gen Z consumers, D2C brands, and rising demand for cruelty-free and skin-safe products.
In this evolving landscape, homegrown brands are gaining traction by offering quality formulations and inclusive beauty products. As part of StartupTalky’s International Women’s Day series, Drishti Madnani, Co-Founder of Shryoan Cosmetics, shares how she transformed a family cosmetic wholesaling legacy into a D2C beauty brand, while empowering women and redefining accessible luxury in India’s beauty market.
From Cosmetic Wholesaling to Building a Consumer Brand
StartupTalky: Shryoan Cosmetics emerged from your family’s cosmetic wholesaling legacy, but you and Nischay chose to build a direct-to-consumer beauty brand in 2019. What inspired this transition, and how has your experience as a makeup expert influenced Shryoan’s product philosophy?
Drishti Madnani: The turning point came to me in the realization that, despite our strong connection to the cosmetics industry through our wholesale business, we were never directly connected to the end consumer. I was constantly interacting with brides, young professionals, and college students as a makeup expert, and I knew that there was a void, as women wanted to look their absolute best with products that performed well and offered value for money but never compromised on quality or finish.
In 2019, we decided to start Shryoan Cosmetics from scratch, a brand that directly communicates to the Indian woman. My experience as a makeup artist greatly affects our brand philosophy. I do not just test our products in a controlled environment but in real-life situations, weddings, long events, in the rain, in office wear, and so on.
Every product that we launch is based on three parameters: does it last long, is it good for the skin, and does it make a woman feel confident?
Understanding What Indian Women Want From Cosmetics
StartupTalky: Shryoan Cosmetics positions itself as offering luxurious yet affordable makeup, a segment that is fiercely competitive in India with both legacy brands and new-age D2C players. As a woman co-founder in the beauty industry, what unique perspective do you bring to understanding what Indian women truly want from their cosmetics, and how does Shryoan differentiate itself in this crowded market beyond just pricing?
Drishti Madnani: Being a woman and a makeup expert, I don’t see makeup products as just products; I see them as tools for expression. Indian women are not just asking for affordable products; they are asking for products that are reliable.
They are asking for products that not only suit Indian skin tones but also have textures that can withstand the humid climate and are not heavy on the skin even after prolonged use.
At Shryoan, differentiation is not just about price. It’s about the formulation, packaging, and shade ranges that suit Indian women. I personally use the products and approve them, and therefore, there’s a level of accountability.
We are not following trends; we are solving real problems.
Building a Bootstrapped Beauty Brand
StartupTalky: The Indian beauty industry has historically been dominated by multinational corporations, and building an independent Indian beauty brand requires navigating challenges around manufacturing, distribution, and consumer trust. What has been the most significant challenge Shryoan has faced as a bootstrapped beauty brand, and how did you overcome it without external funding?
Drishti Madnani: The biggest challenge was to establish trust without investing heavily in marketing. Since we are a bootstrapped brand, we didn’t have the luxury of relying on celebrity endorsements or massive marketing campaigns in the beginning.
We focused on building community and word-of-mouth credibility. We worked with micro-influencers and customers who genuinely loved the product. We also invested our profits in improving product quality.
Over time, our consistent performance helped build trust. Being financially disciplined forced us to innovate and ensure every launch was meaningful and consumer-centric.
Accelerating Action for Women Entrepreneurs
StartupTalky: International Women's Day 2026 focuses on accelerating action for gender equality. Shryoan has previously run Women's Day campaigns that celebrate women's confidence and self-expression. What is Shryoan doing differently in 2026 to go beyond campaign-level messaging and create tangible, lasting impact for women, whether through community initiatives, inclusive product development, or empowering women in your supply chain?
Drishti Madnani: We are moving beyond symbolic campaigns in 2026. We are launching skill-based makeup workshops for aspiring women makeup artists from Tier 2 and Tier 3 cities, where they can receive training, mentorship, and starter kits at subsidized rates.
We are also working towards higher representation of women in our distribution and backend operations.
For us, accelerating action means facilitating financial independence and skill development. Empowerment must be linked to economic participation, not just rhetoric.
Meeting the Expectations of Gen Z Consumers
StartupTalky: Gen Z consumers are reshaping the beauty market in India, with a strong preference for cruelty-free, skin-safe, and value-driven brands, all of which align with Shryoan's positioning. As someone who works closely with this demographic, what do young Indian women today expect from beauty brands when it comes to representation, inclusivity, and social responsibility, and how is Shryoan responding to these expectations?
Drishti Madnani: Gen Z is aware and vocal. They expect transparency in ingredients, cruelty-free products, honest reviews, and diversity in campaigns.
At Shryoan, we maintain transparent communication about product ingredients. Our products are also cruelty-free.
Our campaigns feature creators with different skin tones and backgrounds, and we actively engage with our audience on social media. Today’s youth want to be heard, and we ensure they are heard.
The Advantage of a Makeup Expert as Co-Founder
StartupTalky: Being a husband-wife founding team brings its own dynamics to building a business. How do you and Nischay divide responsibilities at Shryoan, and what advantages do you think having a woman co-founder who is also a makeup expert gives Shryoan in an industry where many beauty brands are actually founded and run by people without deep beauty expertise?
Drishti Madnani: Nischay focuses on operations, finance, and distribution, while I handle product development, brand communication, and community engagement.
Having a woman co-founder who is also a makeup expert gives us a huge advantage. Our products aren’t created based on market research alone, but on real-world application.
I understand how texture behaves, how much pigmentation is required, and what actually works under the Indian sun and climate conditions.
Advice for Women Dreaming of Building a Beauty Brand
StartupTalky: If you could share one message with young women in India who dream of building their own beauty or lifestyle brand, someone who perhaps comes from a small-town background and feels the industry is too dominated by big players to break into, what would you tell her this Women's Day, and what has been the most important lesson from your own entrepreneurial journey with Shryoan?
Drishti Madnani: My message would be don’t wait for perfect conditions to start. We started without funding, without celebrity support, and in a market dominated by international brands, but we had clarity and conviction.
The most important lesson I’ve learned is that consistency beats comparison.
Focus on your niche, stay true to your vision, and build steadily. Big brands may have more resources, but they don’t have your story, your expertise, and your perspective.
Start small if you must, but grow with purpose.
Muskaan Kapoor