Reckitt Benckiser invests around Rs 45 crore in Bombay Shaving Company

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By Ashish Mitra --
Thursday, 28 Jan, 2021

Reckitt Benckiser (RB), the British multinational consumer goods company, has entered a strategic investment of around Rs 45 crore in Visage Lines Personal Care Pvt. Ltd., the owner of the personal care brand Bombay Shaving Company (BSC). 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.

The round also saw participation from individual HNIs (high net-worth individuals) such as Rajesh Sud from Bharti Enterprises, Anjali Bansal founder of Avaana Capital and Kuldeep Jain, managing director of CleanMax Energy

The new investment in BSC is the fifth round of financing for the company that has been invested in by Sixth Sense Venture Partners, Colgate Palmolive and noted industry veterans 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 Rs 20 crore of exit for early angels and employees.

“Our investment represents a commitment to bring the best of two worlds together, BSC’s expertise in digital-first brands with strong e-commerce capabilities, and RB’s expertise in branding, manufacturing, and global scale,” said Arjun Purkayastha, RB’s senior vice president, e-commerce, digital, and Ventures. He will join the board of Visage Lines board.

The Coronavirus pandemic has accelerated the business for BSC that plans to scale its operations and cross Rs 150 crore top line by the end of this year. “The pandemic has created a few tailwinds and our business now is almost three times what it was pre-Covid,” said Shantanu Deshpande, founder CEO of Visage Lines.

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 up its operations and provide BSC with access to RB’s global scale, expertise and mentorship helping to grow the startup as the leader in personal care for men and women.

RB is known for scaling up small categories such as hand wash by Dettol and home cleaning through Lysol and Harpic and made Cherry Blossom shoe polish into a global brand. The capital would also help BSC to expand rapidly in offline retail distribution as the post-Covid footfalls ramp up. BSC has increased its presence to about 14,000 offline stores.

Reckitt Benckiser invests around Rs 45 crore in Bombay Shaving Company. Reckitt Benckiser (RB), the British multinational consumer goods company, has entered a strategic investment of around Rs 45 crore in Visage Lines Personal Care Pvt. Ltd., the owner of the personal care brand Bombay Shaving Company (BSC). 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.

The round also saw participation from individual HNIs (high net-worth individuals) such as Rajesh Sud from Bharti Enterprises, Anjali Bansal founder of Avaana Capital and Kuldeep Jain, managing director of CleanMax Energy

The new investment in BSC is the fifth round of financing for the company that has been invested in by Sixth Sense Venture Partners, Colgate Palmolive and noted industry veterans 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 Rs 20 crore of exit for early angels and employees.

“Our investment represents a commitment to bring the best of two worlds together, BSC’s expertise in digital-first brands with strong e-commerce capabilities, and RB’s expertise in branding, manufacturing, and global scale,” said Arjun Purkayastha, RB’s senior vice president, e-commerce, digital, and Ventures. He will join the board of Visage Lines board.

The Coronavirus pandemic has accelerated the business for BSC that plans to scale its operations and cross Rs 150 crore top line by the end of this year. “The pandemic has created a few tailwinds and our business now is almost three times what it was pre-Covid,” said Shantanu Deshpande, founder CEO of Visage Lines.

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 up its operations and provide BSC with access to RB’s global scale, expertise and mentorship helping to grow the startup as the leader in personal care for men and women.

RB is known for scaling up small categories such as hand wash by Dettol and home cleaning through Lysol and Harpic and made Cherry Blossom shoe polish into a global brand. The capital would also help BSC to expand rapidly in offline retail distribution as the post-Covid footfalls ramp up. BSC has increased its presence to about 14,000 offline stores.