Indian skincare brand Foxtale has raised $30 million (approximately Rs 250 crore) in a funding round led by KOSÉ Corporation, a prominent Japanese beauty products company.
Foxtale raises $30 million in funding led by Japanese beauty giant KOSÉ Corporation. This funding round also saw participation from existing investors Z47 (formerly Matrix Partners India), Kae Capital, and Panthera Growth Partners.
This marks Foxtale’s second funding round in under a year, following an $18 million capital infusion in June 2024. The new funds will be utilized to broaden its product portfolio and strengthen its online presence. Additionally, Foxtale has entered into a strategic partnership with KOSÉ to further the global beauty leader’s expansion in the Indian market.
Founded by Romita Mazumdar in 2021, Foxtale has positioned itself as a budget-friendly skincare brand tailored for Indian consumers. Its products address common skincare concerns such as acne, ageing, and hyperpigmentation. Currently, the brand offers 20 SKUs across various skincare categories. The products are available on its website as well as on popular marketplaces such as Nykaa, Amazon, etc.
Foxtale’s business model reflects a strong online-first approach. 50% of revenue comes from its website, 40% from online marketplaces and quick commerce platforms, and 10% from offline retail. The brand’s offline footprint now extends to over 1,000 stores nationwide, serving more than 15 lakh customers.
In 2024, Foxtale launched a new bodycare range developed through a consumer panel comprising 11,000 women. The brand has reported a 150% growth rate in FY25, doubling its revenue year-over-year. Its focused product lineup and high customer retention have driven profitability aspirations. The company targets to achieve this milestone by the end of the next financial year.
Foxtale faces competition from leading D2C brands like Plum, Minimalist, MamaEarth, WOW Skin Science, and Sugar Cosmetics. However, its rapid growth and strategic partnership with KOSÉ position it strongly in the burgeoning Indian skincare market.
This funding marks a significant milestone in Foxtale’s journey, signalling confidence in its potential to emerge as a leader in the Indian beauty industry.
Banner Image Credits: Foxtale
