New Delhi: Reckitt Benckiser has led an INR 45 Crore funding round in Visage Lines Personal Care Pvt. Ltd., the owner company for the brand Bombay Shaving Company. The round also saw participation from individual HNIs such as Rajesh Sud from Bharti Enterprises, Anjali Bansal founder of Avaana Capital, and Kuldeep Jain, Managing Director of CleanMax Energy. The investment demonstrates RB’s commitment to innovative, purpose-driven brands and is in line with its strategy to play in new spaces and places.
Arjun Purkayastha, RB’s Senior Vice President, eCommerce, Digital, and Ventures will join the Visage Lines board.
Commenting on the investment, Arjun Purkayastha, said: “We are thrilled to partner with the team at Bombay Shaving Company. Our investment represents a commitment to bring the best of two worlds together – Bombay Shaving Company’s expertise in digital-first brands with strong eCommerce capabilities, and RB’s expertise in branding, manufacturing, and global scale. Together, this combination of complementary skills sets us up for huge success.”
Launched in 2016, BSC has a portfolio of over 100 products across shaving, bath and body, skin, and beard care. RB’s investment will support the company’s plans to scale its operations and provide BSC with access to RB’s global scale, expertise, and mentorship, helping to grow the start-up as the leaders in personal care for men and women.
“RB is a diamond addition to our journey. They have an excellent record in building health and wellness brands over their 200-years heritage. Working in partnership, our young team is ambitious for what we can achieve together and scale our operations with an omnichannel presence.” said Shantanu Deshpande, founder CEO of Visage Lines.
The company plans to scale its operations to 150 Cr top line in the next fiscal. They are also expanding rapidly in offline retail distribution as the post-Covid footfalls ramp up. “As we build omnichannel revenue streams we are cognisant that brands will be scaled through strong digital and retail distribution. Working with strategic partners over the long term will give us significant leverage in establishing ourselves in the Indian consumer ecosystem,” said Deepak Gupta, Chief Business Officer at Visage Lines.
This will be the fifth round of financing for the company that has been invested in by Sixth Sense Venture Partners, Colgate Palmolive, and noted industry powerlifters like S Ramadorai former vice-chairman of TCS along with 16 senior partners from McKinsey & Company since inception. In 2019, the company had also created 20 Cr of exit for early angels and employees.