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Funding innovations with right strategies to trim the need gap in the market!


Male grooming is no longer a niche or new concept in India, now it’s a norm. But like all sectors, COVID posed a huge challenge for this segment in terms of logistics and fulfilment. While traditional brands tried new methods and technology the pandemic gave the required impetus to the D2C brands which were serving the category of men’s grooming. According to reports, the Indian male grooming market stood at $643  million in 2018 and is projected to grow at a CAGR of over 11% to cross $1.2 billion by 2024.

And, much of the projected growth is expected to be driven by the digital brands as the pandemic has put the e-commerce platforms at the forefront of retail.

Talking about the growth that e-commerce is witnessing, Deepak Gupta from Bombay Shaving Company spoke about the positive push the brand is experiencing from the market and how this is proving as a pivot for growth.

Bombay Shaving Company is a premium personal care and grooming solutions brand committed to deliver truly remarkable customer experiences. The brand creates a wide array of products across shaving, haircare, skincare, and beard care.

Plans about the recent ‘Funding’

Bombay Shaving Company recently raised a funding of Rs 160 crore led by Malabar Investments. Talking about the plans of using the funds for growth, Deepak Gupta shared with us, “We are looking to deploy the recent funds into scaling our innovation pipeline. We have a strong pipeline to disrupt the category for both men and women and plan to bring more leadership horsepower in the company.”

He also added that the vision of the brand is to get their products to 2 crore bathrooms, 5 products per bathroom to give each customer 10 minutes of happiness. He stated “We want to make sure the brand reaches beyond our current 10 to 15 million consumer base to a far larger audience through our omnichannel business strategy”.

Feeding the need gap in the market 

Bombay Shaving Company is now selling its products in 25,000 stores across 70 cities, Deepak Gupta shared with us the idea on which the brand started “Most Indian men start their day with shaving, because we believe that shaving is very synonymous to beauty. So, that’s  where we started because we believe that market was underserved. And the traditional brands are not giving the right solution to the Indian men to take care of their hair removal needs. We started with a single blade razor, which we took two years to design and make sure that you get the best quality shape possible.”

He also added that as a brand they are educating men about the right way of grooming or shaving. Deepak Gupta stated, “Bombay shaving company instead of talking a lot about individual products. We are focussing more on education regimens.”

Future Goals of the brand 

Deepak Gupta when talking about the brand’s roadmap for growth mentioned, “We believe that our core digital engine, where we have huge consumer insights will help us a lot in the offline business as well. We ‘re planning to scale much faster and efficiently. So, I think the mindset is to get ready for scale. And that’s where we are investing in capabilities at all the levels including the senior leadership team that we are building right now.”

Further he told us about omnichannel and how the blurring of lines between offline and online is proving to be a big motivator for this segment, ”I think a lot of ecosystem play is also happening in the Indian D2C space right now, which is helping us to now not worry a lot about technology and the ecosystem, but our focus is more on the brand and making sure we delight our consumer at all the levels.”

He quoted “So we’re looking forward to our journey to expand our business from $200 to $2,000”.