Wipro Consumer Care invests in personal care brand Letsshave
Feb 27, 2020
Wipro Consumer Care Ventures, the venture capital fund of Wipro Consumer Care and Lighting, has invested an undisclosed amount to acquire a minority stake in personal care company Letsshave.
Letsshave has a strong presence in the shaving category and will be using this investment to expand into personal care categories like body care, skincare, and other segments.
The company is in the business of men’s and women’s grooming products and also plans to expand its online business with this investment.
Commenting on the investment, Sumit Keshan managing partner of Wipro Consumer Care, Venture in a statement said: “Our investment in Letsshave is in line with our strategy of leveraging emerging online opportunities targeting the millennials. We plan to increase our portfolio in innovative start-ups in consumer brands and consumer-tech domains both in India and South-East Asia.”
Sidharth Oberoi, founder of Letsshave added: “Wipro Consumer Care is an established industry player globally having deep insights into the consumer diaspora in India, and we would like to leverage their expertise to chart a strong growth trajectory.”
Letsshave was founded in 2015 by Sidharth Oberoi, and currently claims to have more than 5 lakh customers.
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