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Colgate-Palmolive has picked up a minority stake in Bombay Shaving Company, the premium online men’s grooming brand, for an undisclosed amount. This is part of a series A funding from a clutch of investors, including Colgate-Palmolive Asia Pacific Ltd, and existing investors Fireside Ventures.
Founded in 2016, Bombay Shaving Company has expanded quickly to 80,000+ customers and has a portfolio of more than 30 products across the shaving, bath and body, skin and beard-care categories.
Men’s grooming is proving to be a fast-growing category in the FMCG space in India, with growth rates estimated at 30 per cent annually.
“We met with the team from Colgate-Palmolive and were very excited by the synergies across technology, direct-to-consumer distribution and supply chain. The young team at BSC stands to leverage decades of experience from Colgate-Palmolive, to grow the BSC brand and reach.” said S Ramadorai, former Vice-Chairman at TCS and a long-term backer of BSC.
The founding team includes Raunak Munot, who was Director for Social Media at GroupM in New York, and Rohit Jaiswal, IIMU alumnus and former Crompton Greaves executive.
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