ClayCo Cosmetics opens doors of fortune
The skincare brand ClayCo cosmetics has got $2 million (approximately Rs 16 crore) in a recent funding round from Unilever Ventures which is the venture and growth capital arm of Unilever.
This marked the first external investment for the company. The company was found in 2024 March by Niharika Jhunjhunwala, and it is a top-class skincare brand that blends ancient beauty rituals and practices around the world with modern science.
The company operates as a D2C (direct-to-customer) business model where it offers its products through ecommerce platforms. It has a plan of launching new innovative products, particularly including a Moroccan inspired body care range.
This brand aims to bring high quality and best performing skincare solutions to the market of India, as per the company’s statement.
Statement by the CEO
The CEO commented that the funding will enable the brand to enhance awareness, bring new products into the market, invest in the research and development and fuel its growth. With the increased awareness among the consumers of global ingredients like ginseng, fermented rice and CICA, they are also willing to invest in top notch quality, and productive skincare.
The partner of the firm, Pawan Chaturvedi, also commented on this investment and said that he is pleased to support the company in their mission to heighten the beauty landscape of India by introduction of global beauty rituals that celebrate innovation and uniqueness.
Read the entire statement at: https://yourstory.com/2024/10/startup-news-and-updates-daily-roundup-october-1-2024
What will the firm do with the investment?
Reading the above two given paragraphs about ClayCo makes it clear that the firm is looking forward to investing in the R&D of the company and bring innovation to its products. Also, the company plans to expand its operations in the Indian landscape.
These funds will be used to expand the product portfolio, investment in marketing and branding, and also supporting the working capital requirements.
ClayCo plans to expand its operations and introduce new products, including a Moroccan-inspired body care range.
This new funding will be used in all areas to improve the brand and its products- thereby bringing a rise in the number of new consumers and sticking the existing consumers to its products. The firm is all set to keep the skincare industry revived and rejuvenated increasing the competition amongst its competitors.
Competitors of the firm
The skincare firm competes with names like Peak XV Partners (backed Minimalist), A91 Partners- (backed Plum), Dot & Key, Vertex Ventures – (backed Pilgrim), Honasa Consumer’s Mamaearth and The Derma Co in the skincare segment.
In June, a D2C skincare brand Foxtale had raised $18 million (almost Rs 150 crores) in a funding round which had been led by Panthera Growth Partners (Singapore based).
Where to find products of the brand?
The firm is selling its products both through its own website along with various other online ecommerce platforms.
Conclusion
To conclude, we can say that the brand, ClayCo is all set to bring a new look and new products into the market, increasing the existing competition in the skincare industry and making the consumers potentially happy with their products.
ClayCo has a plan of launching new innovative products, particularly including a Moroccan inspired body care range.
This brand aims to bring high quality and best performing skincare solutions to the market of India, as per the company’s statement.
The CEO of ClayCo commented that the funding will enable the brand to enhance awareness, bring new products into the market, invest in the research and development and fuel its growth.
These funds will be used to expand the product portfolio, investment in marketing and branding, and also supporting the working capital requirements.
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