The Indian skincare trade is having its second in the solar, and it needs you to put on sunscreen whereas at it. In April, Bengaluru-based wellness and private care firm Fit & Glow Health Care Pvt Ltd, which runs the WOW Skin Science model,
Chryscap invests $50 million in WOW Skin Science for 35% stake
$50 million from personal fairness (PE) agency ChrysCapital. Rival model Mamaearth, owned by Honasa Consumer Pvt Ltd, can be an investor favorite. The firm is in
Sofina-led funding could worth Mamaearth at $700 million
with varied traders to lift up to $100 million.
Both corporations are using a wave that has slowly washed over India’s private care market in the final 5 to 6 years. The magnificence trade went from simply make-up and private care to incorporate skincare merchandise utilized in intensive, elaborate, and sophisticated skincare regimens that additionally doubled as ‘self-care’. A 12 months of pandemic-induced restrictions solely fueled that wave additional. The two corporations completed the 12 months ended March 2021 on a robust word, with every crossing Rs 500 crore ($67 million) in income run charge.
Mamaearth and WOW have much more in frequent as effectively. Both manufacturers reaped the rewards of consumers’ quickly increasing curiosity in ‘pure’ and ‘chemical-free’ merchandise. WOW, as an example, was recognized for its give attention to apple cider vinegar. The product, which can be utilized in each face and hair masks, was so common that it spurred the model to launch a complete vary of private care merchandise centered round the ingredient. At one level, its apple cider vinegar shampoo was the
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shampoo on e-commerce website Amazon in each the US and India. Mamaearth, in the meantime, claims that its merchandise are “free from toxins” and use “handpicked plant substances”. Neither Fit & Glow nor Mamaearth responded to an in depth questionnaire from The Ken.
Their goal audiences are the identical—younger, city millennials—and the manufacturers use related methods to woo them. They place themselves as hip, younger manufacturers which can be abreast of the newest tendencies in skincare, whether or not or not it’s coffee-based physique scrubs or onion juice in hair oils, shampoos, and conditioners.
And if the buyer right now is extra skincare-savvy—studying up on the science of skincare, learning the labels, and demanding customisation—the manufacturers haven’t let that faze them.