Why Streax Professional is betting on innovation to drive vernacular growth

In a world where technology is reshaping industries, innovation remains the driving force for brands that seek to stay ahead and resonate with modern consumers. As India’s beauty and personal care (BPC) sector inches closer to a projected $30 billion market size by 2027, local brands are gearing up to capitalise on this growth. A recent joint report by Redseer Strategy Consultants and Peak XV positions India as the fastest-growing BPC market globally, with an anticipated growth rate of 10% from 2022 to 2027. The rise of the online channel is a key driver, expected to propel the market to $10 billion.

One such local player looking to tap into this opportunity is Streax Professional, a homegrown hair colour brand from Hygienic Research Institute, who is refining its strategy to capture a larger share of the hair colour market. The brand tells Campaign it's witnessing rising demand, particularly from an unexpected source: India’s Tier 2 and 3 cities, where consumers are increasingly embracing new trends and products.

“We’re seeing surprising levels of experimentation with hair colours in smaller towns. Thanks to the internet, consumers everywhere are embracing global trends. There’s growing acceptance of bold shades like reds and blondes, not just among younger consumers but across various age groups,” says Priyanka Puri, senior vice president, marketing, HRIPL. “While we’re not yet at global levels of colour penetration, the trend is clearly on the rise, and the market is evolving with it.”

Priyanka Puri

For Streax, this demand signals a shift in consumer behaviour, with a broader range of customers increasingly willing to experiment with their appearance. This aligns with a general trend in the BPC sector, where even traditionally conservative markets are slowly embracing more fashion-forward choices.

However, tapping into this growth isn’t simply about following trends. Streax Professional’s strategy hinges on developing products that resonate with Indian consumers while maintaining the quality and innovation necessary to compete against global giants. For example, the brand’s ‘Argan high lift’ range, which features shades like bronze, crimson, red, and plum, was created specifically with Indian hair in mind, blending global trends with local needs.

“Being a local brand gives us an edge over international players. Our deep understanding of Indian hair allows us to tailor global trends to fit its unique characteristics,” Puri explains, sharing that the brand's ability to navigate these nuances is what they feel sets it apart from its international competitors—including the likes of L’Oréal and Schwarzkopf Professional. 

Puri emphasises that this focus on innovation also extends beyond product development. Streax has adopted a combined business-to-business (B2B) and business-to-consumer (B2C) model, partnering with hair stylists and salons while also engaging directly with end consumers. “The salon business is vital to us, not just for product placement but as a core part of our brand’s mission. We are committed to empowering our salon partners by equipping them with the necessary tools to grow their businesses and effectively serve their clients,” says Puri.

Much of Streax’s product innovation is informed by feedback from such salon professionals, who are often at the forefront of consumer trends. “Whether it’s hair colour, texture, post-care, or other categories, we focus on developing solutions that meet the evolving demands of the salon industry,” Puri adds.

At the same time, Streax is expanding its direct-to-consumer (D2C) presence, taking advantage of the rising trend of e-commerce and online engagement. This dual strategy is designed to help the brand maintain its foothold in traditional retail while also tapping into the increasingly competitive D2C landscape, where new players are emerging.

“Our D2C approach aligns perfectly with our DNA. We view competition from emerging D2C brands as a healthy catalyst for growth. It challenges us to refine our strategies and adapt to changing consumer behaviour,” Puri explains. However, with more brands entering the D2C space, Streax will need to stay agile to remain competitive in an increasingly crowded market.

While there is growing demand for bold colours and more innovative products, the Indian market presents its own unique challenges. Despite the enthusiasm for experimentation in Tier 2 and 3 cities, conservative tastes still dominate many parts of the country. The challenge for brands like Streax is often to navigate this evolving landscape carefully—balancing innovation with the more traditional preferences that still resonate with large segments of the market.

To counter this and stay in tune with consumer preferences, Streax is focusing on educational content, aimed at both consumers and salon professionals. This year, the brand has ramped up its efforts by working with a range of influencers, from micro and nano influencers to high-profile names like Vipul Chudasama and Vaani Kapoor. “This mix allows us to reach a broader audience and drive deeper engagement while optimising our marketing spend across both traditional and digital platforms,” Puri notes.

Internationally, Streax has its sights set on further expansion. The brand already has a presence in Middle Eastern markets such as Saudi Arabia and Oman, where it partners with retailers like Carrefour and Lulu. It's now aiming to strengthen its foothold in these regions while exploring new opportunities in neighbouring countries like Sri Lanka, Nepal, and Bangladesh.

“Our expansion strategy is designed to enhance our market footprint, both nationally and internationally. By diversifying our product offerings and expanding geographically, we aim to drive growth through strategic channel development,” Puri concludes.