Rakesh Aggarwal Founder, Escentual.com
Rakesh Aggarwal (born 1975) is a British businessman and founder of the internet cosmetics retailer Escentual.com, which was described as the “Amazon of online beauty” by MoneyWeek.
Rakesh is the son of Raj K Aggarwal OBE DL – Wales’s honorary consul to India – and Mrs Usha Aggarwal. He grew up in Cardiff and attended the Cathedral School Llandaff and then Malvern College as a boarder. Aggarwal did not originally plan to go into the beauty sector; instead, he had expected to be a pharmacist like his father, who had emigrated from Kenya in the 1960s and ran a chemists in Cardiff. After A-levels at Malvern, he studied pharmacy at King’s College London but his plans came to a halt in the second year of his degree, after realising he wanted to go into business.
Aggarwal left King’s and consequently enrolled on Cardiff University’s MBA course, graduating with a distinction in 1999. He wanted to explore ways of taking premium beauty products, at the time mostly available through department stores only, to new customers through the internet. In 2000, Aggarwal spent £5,000 on the site and took an e-commerce course before launching Escentual.com, which was originally based in his parents’ garage in Cardiff. That gave him a platform to sell his business idea to the brands he wanted to work with, such as Christian Dior and Clarins.
Escentual is now one of the UK’s biggest online retailers of beauty and grooming products. In 2011, it posted sales of more than £10million and won the Beauty, Perfume & Cosmetics category at the Online Retail Awards. Speaking of his ambitions for the business, Aggarwal told The Sunday Times: “We want to be as well known as Asos but in the beauty market.”
Aggarwal lives in Old St Mellons, Cardiff, with his wife Caroline and their two young children.
Website: www.escentual.com
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