Dheeraj Bansal, Co-founder of Recode Studios, speaks to BW Retail World on launching a bold cosmetics brand, Shark Tank fame, and taking affordable Indian beauty global
Recode Studios began with an ambitious vision of providing quality cosmetics at affordable prices. Take us through the early days of the brand’s launch and what led to the journey.
Recode Studios was launched in 2018 after I realised there was a distinct gap in the Indian beauty market. There were hardly any homegrown brands offering global-quality products at reasonable prices. I teamed up with like-minded partners to create a brand that delivered high-performance, trend-led cosmetics without inflating the price tag. We started with retail distribution, which gave us valuable market insight and helped us understand what Indian consumers really wanted. This experience laid a solid foundation for our D2C journey and helped us position Recode as a trusted name for quality, affordable beauty.
While Recode did not raise capital on Shark Tank India, public exposure was enormous for the brand. How did that moment affect your brand visibility, consumer trust, and business strategy?
Shark Tank India Season 2 was a game-changer for us, even without the funding. Our pitch struck a chord with viewers, driving massive traffic to our website and significantly boosting sales and awareness. More importantly, it built trust. People saw our authenticity, passion, and belief in what we’re building. That exposure did more for our brand than many traditional marketing campaigns could. It also challenged us to stay bold and confident in our approach. In the end, it proved that a strong story and clear vision can go a long way — sometimes even further than investment.
From being a D2C brand from scratch to establishing a rising offline footprint, what have been the most important milestones so far in Recode’s growth journey?
Our journey started online, but we’ve always believed in an omnichannel future. Today, we have over 300 SKUs and a network of 250+ makeup artists across India. One of our biggest milestones was launching our own franchise stores — we’re present in cities like Surat, Delhi, Ludhiana, and more. But perhaps our most strategic move has been implementing a B2B2C model. We’ve partnered with other D2C beauty brands, bringing them onto our platform and into our physical retail spaces. Recode is evolving into more than a beauty brand — it’s becoming a platform for emerging beauty businesses.
With a broad product line and an expanding base of makeup lovers, how do you balance trends versus consumer demand in an evolving beauty landscape?
Trends come and go, but our priority is always what works for our customers. We listen closely to feedback from our community — whether it’s customers, retail partners, or makeup artists. Instead of chasing every new trend, we evaluate what fits Indian skin tones, climate, and lifestyle. Our goal is to launch products that are fashionable yet functional — something with international appeal but adapted for local preferences. That balance of innovation and consumer insight is what keeps our products both popular and practical.
What’s next for Recode Studios—are there plans to expand internationally, launch new product categories, or deepen your omnichannel presence in India?
We’re currently focusing on strengthening our footprint in India, especially in tier-2 and tier-3 cities where demand for quality yet affordable beauty is rising fast. Expanding our franchise network and improving the online experience are top priorities. At the same time, we’re eyeing international markets — particularly where there’s a large Indian diaspora. We’re also planning to introduce new product categories and expand collaborations with other beauty brands. Ultimately, our vision is to create a multi-brand platform that supports diverse beauty needs — not just a brand, but a full-fledged beauty ecosystem.
