WOW aims at increasing its online presence and driving offline expansion across India
WOW Skin Science India has reportedly announced that ChrysCapital- an India-focused private equity company has decided to invest nearly USD 50 million in the company to gain a minority stake. The funding is a combination of a primary raise for growth purposes, and a secondary sale by the prevailing stakeholders.
Citing reports, WOW aims at maintaining its growth momentum by capitalizing on its loyal customers and expanding its presence across various channels, further advancing its portfolio of products and brands.
Manish Chowdhary, Co-Founder, WOW Skin Science, was reportedly quoted stating that ChrysCapital is a prominent Indian private equity company with a proven track record across different sectors. Both WOW and ChrysCapital are aiming at developing a sustainable value at WOW.
Manish further added that along with the private-equity firm, the company aims at creating a value for all its employees, consumers, and shareholders.
Established in the year 2014 by brothers Karan and Manish Chowdhary, WOW Skin Science has emerged as the fastest growing new-age beauty and personal care brand present across various ecommerce platforms, retail stores, and its official website.
Seemingly, from being a digital brand, the firm strives to scale up to become a leading brand in the toxin-free space in the vast FMCG industry.
A consumer-centric personal care brand in the D2C space, WOW Skin Care aims at optimizing user’s experience, and addressing their problems by leveraging innovation and technology.
Ashish Agrawal, Managing Director of ChrysCapital, mentioned that the company aims at assisting WOW Sciences to become a formidable house of brand in the rapidly developing beauty sector. Additionally, the company aims at helping WOW grow faster by increasing its online penetration, steering pan-India offline expansion, as well as introducing new brands in adjacent categories.