Foxtale, a direct-to-consumer skincare company founded by Romita Mazumdar in 2021, has raised $30 million in a Series C funding round led by Japan’s KOSÉ Corporation, which is approximately ₹250 crores. Kae Capital, Z47, and Panthera Growth Partners also participated in this round. Foxtale and KOSÉ Corporation are working together to reshape Indian beauty standards. The skincare company Foxtale has joined forces with KOSÉ Corporation to expand its market share in India. Both companies will bring together KOSÉ’s global experience and Foxtale’s knowledge of the Indian market.
Growth Statistics of Foxtale
Foxtale’s gross revenue increased 150% over the previous year, reaching approximately ₹300-350 crore. Over the next year or two, the company plans to expand its product offering beyond the current 18-20 skincare SKUs, which include a small number of body care items. Foxtale, which has had over 1.5 million customers since its inception, hopes to turn a profit by the end of the next fiscal year.
The partnership with KOSÉ Corporation is anticipated to bring together Foxtale’s knowledge of the Indian beauty market with KOSÉ’s international experience, aiming to redefine beauty standards in India through increased product efficacy and innovation. This funding round comes after Panthera Growth Partners led Foxtale’s $18 million Series B round in June 2024. In the very competitive Indian skincare market, Foxtale is positioned for long-term growth and expansion thanks to its strategic initiatives and partnerships. In the very competitive Indian skincare market, Foxtale is positioned for long-term growth and expansion thanks to its strategic initiatives and partnerships.
Foxtale and KOSÉ Corporation alliance
The partnership seeks to create new standards for beauty, increase product efficacy, and promote innovation. The money will go toward developing customized skincare products through research and development. Foxtale wants to increase its footprint in India, diversify its product line, and grow its business.
Foxtale intends to expand its market share in India by strengthening its R&D capabilities with this funding. By making this investment, KOSÉ Corporation and Foxtale have established a strategic partnership aiming also to grow KOSÉ’s market share in India.
