New Delhi : Direct-to-consumer (D2C) beauty and wellness brand Wow Skin Science on Wednesday announced that it has raised primary growth capital from Singapore’s sovereign wealth fund GIC.
On May 16, ETtech reported that GIC is in talks to pick up a significant minority stake in D2C beauty and personal care brand Wow Skin Science for $75 million.
The deal would give the ChrysCapital-backed company a post-money valuation of $400–$420 million, we reported earlier.The company declined to comment on the amount raised and the valuation it has racked up in the new round.
The company declined to comment on the amount raised and the valuation it has racked up in the new round.
Last year, ChrysCapital acquired about 35% stake in Wow for $50 million, valuing it at Rs 900 crore.
Wow plans to invest new funds in brand development, talent resourcing, and to accelerate its innovation pipeline through a combination of organic launches and selective inorganic investments.“We at Wow are thrilled to welcome GIC in our journey towards becoming a House of Loved Brands. This investment will enable us to drive sustainable yet disruptive growth and to strengthen our organization with top notch talent,” Wow Skin Science cofounder Manish Chowdhary said in a statement.
“We at Wow are thrilled to welcome GIC in our journey towards becoming a House of Loved Brands. This investment will enable us to drive sustainable yet disruptive growth and to strengthen our organization with top notch talent”, Wow Skin Science cofounder Manish Chowdhary said in a statement.
Founded in 2014 by brothers Manish and Karan chowdhary, Wow Skin Science sells toxin-free beauty products made with natural ingredients across categories such as skin, hair, nutritional supplements, bath and body, and wellness. It retails across e-commerce platforms, its own website, as well as brick-and-mortar stores.
Fit & Glow Healthcare, Wow’s parent firm was chosen as the winner in the Bootstrap Champ category at the Economic Times Startup Awards 2019. At the time the company has not raised any external capital.
“We are also grateful for the continued partnership with ChrysCapital who have been instrumental in our growth journey. We look forward to creating a future ready organization along with our investors,” Chowdhary added.
Wow competes with clean beauty and natural beauty D2C brands such as Plum, EarthRhythm, Juicy Chemistry, Organic Harvest, mCaffeine, Beardo, Mamaearth and Bombay Shaving Company.
