Foxtale, a D2C skincare brand, has secured $30 million (around Rs 250 crore) in a Series C funding round led by Japanese multinational KOSÉ Corporation. The round also saw continued participation from Panthera Growth Partners, Z47 and Kae Capital. The company’s partnership with KOSÉ Corporation aims to strengthen the global beauty giant’s footprint in India, creating a synergy that combines Foxtale’s D2C expertise and deep understanding of the Indian beauty market with global experience by KOSÉ.
“This collaboration is set to redefine beauty standards in India, a billion-dollar market,” said Romita Mazumdar, founder of Foxtale. Talk to Business todayMazumdar highlighted that the newly raised funds would be spent on strengthening the company’s R&D capabilities. “We have always viewed research as the foundation of our brand’s success and we are determined to continue our investments in cutting-edge technologies. This will enable us to create even more targeted and innovative skincare solutions, specifically designed to meet the unique needs of Indian consumers. By pushing the boundaries of innovation, we aim to stay ahead of the market and continue to offer products that truly make a difference. »
Founded in 2021, Foxtale plans to leverage KOSÉ’s advanced technological R&D prowess to expand its innovation pipeline. While the brand currently offers 20 SKUs, Mazumdar hinted at the possibility of introducing new product lines. “The funding from KOSÉ Corporation will enable the company to scale faster, innovate more deeply and bring effective and accessible skincare to even more people in India,” said Mazumdar. “Beyond growth, this partnership also marks a step towards strengthening global relationships, combining international expertise and local knowledge. »
Kazutoshi Kobayashi, President and CEO of KOSÉ Corporation, highlighted the importance of the partnership. “We are very pleased to have entered into a capital and strategic partnership with the growing Foxtale in the premium mass care market, on the 10th anniversary of our entry into the Indian market. Through this partnership, we will take a major step forward in the next decade as we aim to establish a greater presence in the Indian market and expand our business,” he said.
Differentiating itself from its competitors, Foxtale prioritizes efficiency and customer-centric solutions over fleeting trends. “Our commitment to quality and efficiency is reflected in our loyal customer base, many of whom come back for more,” Mazumdar noted. She also discussed the brand’s profitable offline channel, which contributes 10% of revenue and operates on a minimum receivable days. “Many of our distributors in India work on an advance payment model, which aligns with our strategy to maintain an optimal working capital cycle for the business. With this approach, we will continue to grow our offline presence with discipline and focusing on the right metrics.
Although Foxtale is yet to turn profitable, it achieved 150% growth in FY25, doubling its revenue of Rs 300 crore from last year. Most of its sales (50%) come from its own platform, while 40% come from other online channels, including e-commerce and fast trade. The remaining 10% comes from its offline reach.
With a strategic roadmap in place and the backing of a global beauty powerhouse, Foxtale is positioned to make significant progress in India’s thriving skincare market.
