ChrysCapital to invest USD 50 mn in WOW Skin SciencePTI | New Delhi | Updated: 09-04-2021 11:42 IST | Created: 09-04-2021 11:42 IST
''ChrysCapital has agreed to invest USD 50 million in the company for a significant minority stake. The transaction is a combination of a primary raise by the company for growth initiatives, and a secondary sale by existing shareholders,'' WOW Skin Science said in a statement.
Manish Chowdhary, Co-founder of WOW said from being a digital-first brand, the company's vision now is to scale up to become the number one brand in the toxin-free space within the larger FMCG sector.
Ashish Agrawal, Managing Director, ChrysCapital said WOW Skin Science founders have demonstrated a robust historical track record by significantly outperforming the industry growth while demonstrating superior capital efficiency.
''We look forward to helping WOW grow multi-fold by further increasing online penetration, driving pan-India offline expansion, and launching new brands in adjacent categories,'' he added.
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