Consumer goods firm Reckitt Benckiser (RB) has led a Rs 45 crore strategic investment round of Rs 45 crore in Visage Lines Personal Care, which owns the grooming brand Bombay Shaving Co (BSC).
According to Shantanu Deshpande, Founder and CEO, Visage Lines, the investment will help the firm scale its operations and also provide access to RB’s global scale
Investors Rajesh Sud, MD, Bharti Enterprises, Anjali Bansal, Founder, Avaana Capital and Kuldeep Jain, MD, Cleanmax Energy Enviro Energy Solutions participated in the process.
Arjun Purkayastha, Senior VP, e-commerce, digital and ventures, will join the Visage Lines board. Purkayastha said, “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.”
“RB is a home and hygiene giant globally and is well-entrenched in the Indian consumer space. We have always tried to find long-term, patient investors and RB has an excellent record in building health and wellness brands over their 200-year heritage. They enter niche spaces and turn them into big categories. We have earlier seen great value with our association Colgate-Palmolive as well,” Shantanu Deshpande, Founder and CEO, Visage Lines.
Deshpande added, “The investment will help the firm scale its operations and also provide access to RB’s global scale, expertise, and mentorship. The aim is to build BSC into a household company and launch more brands in the personal care space.”
“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,” Purkayastha said.