Clean Beauty D2C Firm Sunflower Acquires Unspecified Amount from Wipro and Others
Soulflower, a clean beauty D2C firm, has acquired an unspecified amount from Wipro Consumer Care-Ventures, Wipro Consumer Care and Lighting's venture capital fund.
Natasha Tuli founded the company in 2001. In both domestic and foreign markets, Soulflower meets the growing demand for high-efficacy 'farm-to-face' personal care products. The company claims to be the first to offer cruelty-free cosmetics.
Wipro Consumer Care–Ventures managing partner Sumit Keshan stated, “our investment in Soulflower is part of our strategy to support innovative D2C clean beauty brands. We want to back authentic brands that address the unique requirements of consumers. Natasha has built her business on the principles of transparency & innovation. The brand has served over 1 Mn customers till date”.
The newly invested funds will be put to use by Soulflower to increase brand transparency for customers and to implement sustainable manufacturing and sourcing technology.
It features over 200 active SKUs that fall in between mass-market and premium. It has already gone live in countries such as the United States, the United Kingdom, the United Arab Emirates, Singapore, and Japan.
The beauty and personal care market in India is forecast to be valued $26.9 billion in 2021, with a CAGR of 12.5% expected to reach $37.2 billion by 2025.
Following the repeated closures of supermarkets, hypermarkets, department stores, salons, and other brick-and-mortar establishments, the Covid-19 pandemic drove internet discovery and sales of new cosmetics companies.
Customers began to embrace the convenience and safety that ecommerce provides, and it climbed to the top of the beauty business pyramid for the first time, seeing the biggest growth in product distribution share.
The online beauty and personal care business in India is expected to be worth $3.5 billion in 2021 and expand to $5 billion by 2025, rising at a CAGR of 9.3%, accounting for 15% of the entire beauty and personal care market.
Popular beauty brands like Revlon and Lotus, on the other hand, took two decades to reach the INR 100 crore revenue mark. Mamaearth and SUGAR, two new-age brands, took four and eight years, respectively.
Natasha Tuli founded the company in 2001. In both domestic and foreign markets, Soulflower meets the growing demand for high-efficacy 'farm-to-face' personal care products. The company claims to be the first to offer cruelty-free cosmetics.
Wipro Consumer Care–Ventures managing partner Sumit Keshan stated, “our investment in Soulflower is part of our strategy to support innovative D2C clean beauty brands. We want to back authentic brands that address the unique requirements of consumers. Natasha has built her business on the principles of transparency & innovation. The brand has served over 1 Mn customers till date”.
The newly invested funds will be put to use by Soulflower to increase brand transparency for customers and to implement sustainable manufacturing and sourcing technology.
It features over 200 active SKUs that fall in between mass-market and premium. It has already gone live in countries such as the United States, the United Kingdom, the United Arab Emirates, Singapore, and Japan.
The beauty and personal care market in India is forecast to be valued $26.9 billion in 2021, with a CAGR of 12.5% expected to reach $37.2 billion by 2025.
Following the repeated closures of supermarkets, hypermarkets, department stores, salons, and other brick-and-mortar establishments, the Covid-19 pandemic drove internet discovery and sales of new cosmetics companies.
Customers began to embrace the convenience and safety that ecommerce provides, and it climbed to the top of the beauty business pyramid for the first time, seeing the biggest growth in product distribution share.
The online beauty and personal care business in India is expected to be worth $3.5 billion in 2021 and expand to $5 billion by 2025, rising at a CAGR of 9.3%, accounting for 15% of the entire beauty and personal care market.
Popular beauty brands like Revlon and Lotus, on the other hand, took two decades to reach the INR 100 crore revenue mark. Mamaearth and SUGAR, two new-age brands, took four and eight years, respectively.
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