Today, KOSÉ Corporation, a leading Japanese cosmetics company, has announced a strategic investment with $30 million in Foxtale Consumer Pvt. Ltd., a Mumbai-based skincare company founded by Romita Mazumdar in 2021. This investment aims to bolster KOSÉ’s footprint in India, a key market within the Global South, and marks the establishment of a strategic partnership between the two companies.
This marks the second funding round for Foxtale in just one year, following an $18 million raise in June 2024. With this fresh infusion of capital, the fast-growing D2C company aims to expand its product categories and strengthen its presence across online sales channels. Foxtale, which was founded in 2021, is on track to surpass Rs 300 crore in gross revenue this fiscal year, with significant contributions from its website (50%), online marketplaces and quick commerce platforms (40%), and offline sales (10%).
Currently offering 18-20 SKUs in skincare, Foxtale recently entered the body care category, achieving an impressive Rs 40 crore run rate within just five months. The brand plans to diversify into additional categories over the next two years, leveraging the new funds to accelerate this growth trajectory.
According to KOSÉ, the partnership will allow KOSÉ to contribute to Foxtale’s formulation and product development using its extensive expertise in R&D while leveraging Foxtale’s deep understanding of Indian market dynamics to strengthen its local presence. By shifting to locally-driven marketing and manufacturing, KOSÉ aims to enhance its global competitiveness and establish itself as a key player in India’s burgeoning beauty and personal care market.
The country’s beauty and personal care market is valued at approximately 2.5 trillion yen, with significant growth projected in skincare and makeup categories. Rising consumer demand for high-value-added products, along with the increasing popularity of e-commerce, underscores the market’s potential.
