In a significant milestone for the Kolkata-based beauty brand WishCare, Unilever Ventures has spearheaded a Rs 20 crore investment in its first institutional round. This infusion of funds marks a promising chapter in WishCare’s journey to revolutionize the beauty industry with its distinctive approach.
Founded in 2019 by Stuti Kothari, Ankit Kothari, and Ayush Kothari, WishCare has steadily risen as a standout player in the beauty and skincare sector. With an unwavering commitment to delivering high-quality products that cater to consumers’ needs while upholding sustainability and minimal hassle, the brand has been on a remarkable trajectory.
WishCare offers diverse haircare and skincare products, including bond repair hair treatments, hair growth serums, face serums, sunscreens, and active-based body lotions. Their relentless focus on clean and effective formulas, eco-conscious packaging, and socially responsible initiatives sets them apart in an increasingly prioritizing sustainability industry.
With the newly acquired funds, WishCare is primed to embark on a journey of expansion and innovation. A significant portion of the investment will amplify research and development efforts, with a precise aim to formulate high-efficacy products that continue to meet the evolving needs of beauty enthusiasts. Moreover, WishCare has its sights set on the domestic market and a global presence.
WishCare boasts an impressive Annual Recurring Revenue (ARR) of Rs 85 crore, showcasing a remarkable fourfold growth in the past 12 months. The brand has successfully maintained a double-digit EBITDA, reflecting its business acumen. Their products are available through prominent marketplaces such as Nykaa, Amazon, Flipkart, Purplle, and Myntra, in addition to their direct-to-consumer (D2C) website. With over ten lakhs of customer base, WishCare has solidified its presence in the highly competitive beauty market.
WishCare’s collaboration with Unilever Ventures validates the brand’s vision and potential and underscores the beauty industry’s growing emphasis on sustainable, effective, and socially responsible products. As consumers increasingly seek products that align with their values, WishCare’s unique approach and continued growth exemplify the changing landscape of the beauty and skincare sector.
In a world where beauty and sustainability are harmonizing, WishCare and Unilever Ventures are paving the way for a brighter and more conscious future in the beauty industry. This investment is not just a financial transaction; it represents a step forward in the journey towards a more beautiful and sustainable world. WishCare’s commitment to delivering innovative, eco-friendly, and effective products is poised to impact how we perceive and engage with beauty.
