If there’s one childhood memory we all collectively share, it’s our mother’s makeup bag feeling less like a pouch and more like contraband. It lived on the top shelf, brought out mostly for weddings, festivals or “important” dinners. Lipsticks clicked shut and compacts opened to tiny mirrors that made you feel grown-up for exactly five seconds. Long before I understood shade names or finishes, I understood this: makeup was more than just product. It was permission, transformation and something powerful.
I’m happy to report that that relationship has not disappeared for most of us. It has simply evolved. What began as a private, girlish fascination the thrill of holding something beautiful that wasn’t meant for you has grown into becoming a keepsake; a collectable object you want to leave out on your dresser instead of tucking away.
In 2026, Indian beauty is leaning into this shift, borrowing the language of couture: limited editions that feel archival, packaging as precious as jewellery and collaborations that treat a lipstick cap with the same attention to detail as embroidery. The Kay Beauty x Falguni Shane Peacock collaboration arrives squarely within this moment. At first glance, it is unapologetically ornate. Art deco golds. Design cues that feel closer to couture trunks than makeup pouches.
Gatsby glamour with an Indian soul
For Katrina Kaif, the starting point was never glam for its own sake. “Falguni and Shane were very clear that this had to feel globally glamorous, but deeply Indian at its core,” she says. The visual bridge came from the Gatsby era. “The 1920s allowed us to play with structure, geometry and metallic detailing,” she explains. “But the Indian textiles gave the collection its soul. That’s where the emotion lives.” Banarasi silks translate into depth and richness. Mulberry and brocade inform undertones that feel layered rather than flat. These shades are not literal references to saris or lehengas. They are interpretations of how Indian textiles move, catch light and make you feel when you wear them.
Couture-inspired beauty often risks becoming special-occasion-only. Kaif was clear she wanted to avoid that. “Makeup has to be enjoyed,” she says. “The packaging can feel elevated, but the formula must stay comfortable, wearable and something you reach for without thinking.” This balance is what gives the collaboration its weight. The lipsticks look precious, but feel familiar on the lips. The face palettes are designed to move easily from day to night. It’s luxury that folds into daily life rather than sitting apart from it.
For Falguni and Shane Peacock, this translation felt intuitive. “Beauty has always completed the look for us,” they explain. “On the runway or red carpet, makeup is part of the story. Translating couture into a lipstick wasn’t about scale. It was about choosing the right details.” Sun-ray motifs from their logo appear across bullets and palettes. The gold finish mirrors the way their garments catch light in a room. It is branding, yes, but also design discipline.
The permission to want beautiful things
Kay Beauty’s early years were focused on building trust, consistency and a clear point of view. Only after that foundation was laid did couture makeup feel like a natural progression. “Indian beauty is ready now for that intersection of luxury and authenticity,” Kaif says. Adwaita Nayar, co-founder of Nykaa, sees the same shift. “The Indian beauty consumer today is seeking more than performance,” she explains. “There is a growing desire for products that feel expressive and resonant in everyday life. Design and storytelling matter just as much as formulation.”
