Vini Cosmetics raises Rs 1000 crore in third funding round

Vini Cosmetics Private Limited has raised Rs 1000 crore (approx $156 million) in its third funding rounds from investors West-Bridge Capital Partners and Sequoia Capital. The company will use the capital to expand its presence in India and also foray into the personal hygiene segment, said a top company official.

Vini Cosmetics raises Rs 1000 crore in third funding round - Fogg-Facebook

Vini Cosmetics currently offers personal care products and owns the brands Fogg, 18+ deodorants and White Tone Talc amongst others.
The company tasted success in the country with the deodorant brand Fogg and commanded a retail value share of 20% in 2016. Fogg has been a pioneer within the category in India and is largely credited with developing sales of deodorants in India, according to a report by Euromonitor.
“The funds would be infused over next 10 days and would be used for the primary growth of the company and to foray into personal hygiene space,” Vini promoter Darshan Patel told the Times of India.
The size of funding puts Vini’s valuation close to Rs 5,000 crore (approx $780 million)
 and the two investors would have 30% stake in the firm.
“They have a 10-15-year horizon in mind and are not in a hurry to exit, giving me enough space to grow. Even if we list the company, my investors will be relaxed as they love the ‘listed’ space,” he said.
Vini Cosmetics Private Limited was incorporated in 2009 and is based in Ahmedabad, Gujarat.

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