Bombay Shaving Company
Bombay Shaving Company
Announced Date: January 2022
Bombay Shaving Company raises equity funding from Malabar Capital, Patni Advisors, Singularity Ventures and other investors.
We are pleased to announce that our client, Visage Lines Personal Care Private Limited (“Bombay Shaving Company / BSC"), has successfully raised equity funding from Malabar Capital, Patni Family Office, Singularity Ventures and a few HNI investors. o3 Capital was the exclusive financial advisor to Bombay Shaving Company and its shareholders for the transaction.
Founded by Shantanu Deshpande in 2016, with investments from Sixth Sense Ventures and two leading global strategics, Reckitt and Colgate Palmolive, Bombay Shaving Company is one of India’s fastest growing personal care brands in the hair management and grooming space, with presence across more than 20,000 offline stores in 70+ cities Pan-India and all leading e-commerce platforms. The Company has recently forayed into the women’s hair management & grooming space with their brand ‘Bombay Shaving Company–Women’, and recorded exponential growth, to become one of the dominant brands in the women hair removal solutions segment within 12 months of launch.
BSC intends to use the capital raised for its distribution expansion across channels, product development within core categories and brand building.
Shantanu Deshpande, Founder and CEO, Bombay Shaving Company, said, “We have always been singularly focused on building a brand that owns hair removal. As we scale from INR 150 crore to INR 1,000 crore, we needed an investor group that could guide us on building an IPO-able company”.
On the transaction, Mohit Khullar, Managing Director, o3 Capital said, “Bombay Shaving Company has emerged as a dominant player within the hair management & grooming category for men & women, led by a highly pedigreed leadership team. The investment proceeds will support Company’s growth plans to become an INR 1,000 crore brand in the next 3 years”.
With this closure, o3 Capital has successfully closed 173 transactions aggregating to USD 7.2 bn in the last 14 years across verticals and product groups.
o3 Capital acted as the Exclusive Financial Advisor to Bombay Shaving Company on the transaction.