Korean Razor Giant Dorco Acquires 10% of LetsShave
Korean razor giant Dorco Ltd picks up 10% stake in an Indian startup LetsShave in Series –A funding. The deal is significant investment for the ecosystem as this is for the first time that global giant has invested in an Indian men’s and women’s grooming product range startup.
Founded in 2015, LetsShave claims to have more than 4,50,000 customers base and has been growing at 45% YoY ever since.
The startup began with about four products and is now selling 22 products and plans to expand to 40 products in the near future. They have a very strong supply chain that delivers almost everywhere in India. LetsShave claims to have a high repeat rate of customers.
In recent years, Indian FMCG companies picked up stakes in grooming & cosmetic startups. In 2017, Marico acquired 45% stake...