Wishcare, an India-based haircare and skincare brand has raised 20 Rs crore (about $2.5 million) from Unilever Ventures in its first funding round.
The three founders of Wishcare, Stuti Kothari, Ankit Kothari and Ayush Kothari, say the funds will go towards research & development, diversifying the brand’s product portfolio, and entering new markets, as well as building on its domestic base.
The brand sells via domestic mega players Nykaa and Purplle, as well as on Amazon and direct to consumers.
Through its corporate venture capital arm, Unilever is making a play for a stake in the Indian market, considered to be one of the biggest emerging markets for beauty.
Reliance Retail to Take Over Sephora India
As part of the partnership with LVMH-owned Sephora, Reliance Retail will take over the operations of Sephora’s 26 stores from Arvind Fashions Limited.