"Building beauty businesses with influencers have created a lot of value in the west and after Unilever Venture, we are proud to have TIW believe in this opportunity in India and will continue exploring growth categories," Scentials co-founder Mahesh Bhupathi said in a statement.
Founded in 2017 by Bhupati and Jinesh Mehta, Scentials designs, develops, manufacture and distribute beauty and personal care brands (deodorants, fragrances and skincare categories) that are driven by India's top celebrities, including Salman Khan, Virat Kohli and Lara Dutta.
Scentials said it is currently focusing on expanding its products range in deodorants, fragrances and skincare categories, where it already has a strong presence.
The company plans to launch new product variants to give customers a broader choice and target niche customer requirements.
Scentials said the team continues to work on new product formulations and given that product R&D is a huge strength area for the company, it is adding more muscle to it.
Scentials said it is expanding its distribution network across India and consistently adding more retail touchpoints through general trade and modern trade channels.
The goal is to make all of its products available for customers at their nearby stores in all major cities of India, driving convenience and access, it added.
The company continues to expand distributor partnerships and also expand its own sales and marketing team.
Online channel is also a major thrust area where it plans to spend significant marketing budget, expanding its customer reach across the country, it said.
The investment in Scentials reflects TIW's investment philosophy of backing first-generation entrepreneurs who are seeking active capital to scale their organisation and drive growth, the statement said.
The fund works closely with the management and helps scale the business through its operative consultant approach primarily focusing on consumption-driven sectors across FMCG, media, education, digital platforms, financial services and real estate.
"We are very excited to partner with Scentials in its journey towards sustainable growth, backing it with significant investment. The company offers a unique and powerful value proposition with brands envisioned by top celebrities and superior quality products crafted by a team of specialists," Mohit Ralhan, Managing Partner and Chief Investment Officer at TIW PE said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.