Smriti DixitPersonal grooming is essential and vital.
You cannot expect a healthy lifestyle if you start avoiding the basic things that your body, mind & skin needs. Traditionally; people resorted to products that were homemade; but now having such a busy lifestyle you can’t afford a detailed & time taking process.
As a result; a new market that caters to such requirements have been generated which clearly focuses on the needs that are left unserved. There are a lot of brands that have established their hold & loyalty. As a result; now they are expanding. On Thursday; one such brand Wow skincare announced its funding infusion.
Let’s get inside the article to know more about the amount & other details.
INSIGHTS
The company has received an amount of $ 50 million from a home-based equity firm Chrys Capital. The investors in return now hold a minority stake.
The basic focus will be to reach consumers through different channels & try to enter markets that are still untapped.
The founder Manish Choudhary made an optimistic statement quoting that “WOW Skin Science is a “consumer first” brand in the D2C space. We strive to optimize the consumer’s experience and address their problems and pain points by leveraging technology and innovation. From being a digital-first brand, the vision now is to scale up to become the number one brand in the toxin-free space within the larger FMCG sector,”
Chrys Capital is known for investing in segments that are directly connected to the end recipient which is consumers. They are an active investor in other ventures like First Cry, Dream Sports & so on.
The MD of the company Ashish Agarwal stated that WOW has been able to tap that unique segment of toxic free beauty products which is definitely going to be the top most priority in the next few generations as per the demographic changes. The company would extend full support in order to take this regime out of the country too and diversify in the best possible manner.
DETAILS ABOUT WOW
The company was founded in the year 2014 by Manish & Kiran Chowdhary. They are direct to customer (D2C) brand that operate in the personal beauty segment. Although they believe in omnichannel mode of distribution. They have both websites & brick stores to offer the required products. They are based in Bangalore and offer a range of products like:
- Supplements
- Essential Oils
- Herbal Blends
- Creams
- Serums
- Lotions
- Shampoos
- Bath & Body Products
- Men’s grooming products
- Essential Oils
- Massagers
The products are natural & health friendly in all forms. They have established their reputation by offering good products as well as great service too. The products are offered on e-commerce sites like Amazon, Flipkart and Myntra.
The ground reality now is that India in itself is going to generate a revenue of US $ 134 million in the personal care segment in 2021. By 2025; the penetration would be even deeper & hence more revenue is expected to arrive. The competitors Mama Earth, BSC, Pure Play Skin Sciences are already huge in terms of their presence.
So; it’s time to buck up and get more WOWWW moments by serving customers the right quality & right prices and of course at right timings.