Private equity firm ChrysCapital has invested $50 million in WOW Skin Science India, provider of new-age personal care brand in India, 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.
Founded in 2014 by brothers Manish and Karan Chowdhary, WOW Skin Science is one of India’s fastest growing new-age beauty and personal care brands available across e-commerce platforms, with its own website, as well as brick-and-mortar stores, said the company.
“We are extremely pleased to announce ChrysCapital’s investment in WOW, and welcome ChrysCapital to the WOW Skin Science family. We are excited to build a long-term, and mutually beneficial, partnership with ChrysCapital over the coming years. The foundation of this relationship is our shared goal of creating sustainable value at WOW by creating a house of brands, accelerating growth, hiring talent, institutionalising the organization, and expanding WOW’s presence in the Beauty and Personal Care category. We also look forward to working closely with Enhancin, ChrysCapital’s portfolio operations group, to achieve these goals,” said Manish Chowdhary, co-founder of WOW.