Highlights
Foxtale Secures $30 Million Funding to Enhance D2C Skincare Brand
Foxtale, a direct-to-consumer (D2C) skincare brand, has successfully raised $30 million (approximately Rs 250 crore) in a recent funding round led by the Japanese beauty products company Kose Corporation. This round also saw participation from existing investors including Z3Partners (previously known as Matrix Partners India), Kae Capital, and Panthera Growth Partners.
This capital injection marks Foxtale’s second funding round within a year, following an $18 million investment in June 2024. The company intends to utilise the new funds to broaden its product offerings and bolster its online presence.
About Foxtale
Founded by Romita Mazumdar in 2021, Foxtale provides affordable skincare solutions tailored specifically for Indian skin types. The brand addresses various skincare concerns such as:
- Acne
- Aging
- Hyperpigmentation
Foxtale’s products are accessible through its official website and numerous online marketplaces, including Nykaa, Amazon, Blinkit, Flipkart, and Myntra.
Revenue Breakdown
The company’s revenue streams are distributed as follows:
- 50% from its website
- 40% from online marketplaces and quick commerce platforms
- 10% from offline sales channels
According to the founder and CEO, Foxtale is set to exceed Rs 300 crore in gross revenue for the current fiscal year.
Market Competition
Foxtale faces competition from established brands such as Sugar Cosmetics, WOW Skin Science, Plum, MamaEarth, Minimalist, among others.