Kay Kouture, Falguni Shane Peacock, and Kay Beauty’s limited edition beauty drop, lives up to all the hype and more
By Anjan Sachar
We live in a world where brand collaborations come through by the dozen, week on week. But what makes them worth paying attention to is when the fanfare matches the product. Falguni Shane Peacock kicked off 2026 with a limited edition beauty line, Kay Kouture, in collaboration with Kay Beauty by Katrina Kaif, one of India’s leading makeup brands known for their impeccable quality and price points. The collection consists of twelve luxe matte lipsticks and two multipurpose face palettes, all developed keeping the Indian skin tone spectrum in mind, and infused with skincare ingredients — a Kay signature. Plus, they’re housed in opulent gold tubes and trays that are a bang-on depiction of the grandeur the couture label is known for. All in all, a tangible rendition of the extravagant glamour that defined the 1920s, to be experienced on a daily basis.
With shade names like Chikankari Crush, Crimson Silk, Mulberry Cashmere and Champagne Brocade, it’s a given that the colours are a nod to rich, Indian textiles. The lipsticks are infused with vegan collagen and Brazil nut oil to keep lips plump and hydrated, and the palettes — each with a bronzer, highlighter, matte and shimmer blush — contain vitamin C and ceramides lending an added dose of nourishment to the skin.
We got Falguni and Shane Peacock, founders of their eponymous label, and Katrina Kaif, co-founder of Kay Beauty, to let us into their creative, collaborative process — here’s why the limited edition pieces are worth coveting a seamless association.
It was Falguni and Shane Peacock’s pre-existing relationship with Katrina Kaif that played the catalyst to bring their first beauty collaboration to life. “For us, the non- negotiables were shared values and integrity of vision,” say Falguni and Shane Peacock. “Kay Beauty represents a rare balance. Luxury that feels aspirational yet genuinely accessible, without compromising on quality or performance. Our long-standing friendship with Katrina made the collaboration even more meaningful; there was already trust, creative alignment and mutual respect. What began as a personal relationship naturally evolved into a partnership where all of us shared the same desire to create something thoughtful, elevated and truly special.” Beauty mimics fashion.
The collection is a collaboration between the fashion and beauty worlds in the truest sense, where fabrics played muse to colours and textures. “During the early development phase, I was sitting with Falguni and Shane Peacock, surrounded by fabrics, textures and colours, talking about how those ideas could translate into makeup,” says Katrina. “They have such an intuitive understanding of craft, glamour, and drama, and our conversations went far beyond trends or references; they were instinctive and deeply creative. I remember a particular metallic fabric catching the light in the most beautiful way, and that sparked a long discussion about how we could recreate that same softness and depth in a lipstick.
“That back-and-forth, from couture to colour to formula, blending their design vision with my perspective on beauty really captured the spirit of this collaboration.” For the designers, it was seeing the final product against their couture pieces that served as the most memorable moment. “We laid out our couture embroideries alongside the makeup shades for the first time,” say Falguni and Shane Peacock. “Seeing our textures, metallics and colour stories translate so seamlessly into beauty felt incredibly organic. It was that instant when we knew this wasn’t just a collaboration, it was a shared creative language coming to life.” There truly is a shade for everyone.
“What I love most is that every colour feels intentional, rooted in fabric, texture and light, so each shade carries its own mood and emotion,” says Kaif. “Every colour was chosen to flatter different undertones, feel modern, and sit naturally on the skin. It’s always difficult to choose, but I’m especially drawn to the deeper, richer tones in the collection. The berries and reds feel powerful yet elegant, and they have a way of instantly elevating any look. At the same time, there are softer, luminous shades that are incredibly versatile and work beautifully for everyday wear. Champagne Brocade is a personal favourite; it’s a gorgeous pink-toned nude that transitions effortlessly from day to evening.”