D2C skincare brand Foxtale has raised $30 million (₹250 Crore) in its Series C funding round. The round saw participation of Japanese multinational company KOSÉ Corporation, along with existing investors Panthera Growth Partners, Z47, and Kae Capital. 

Founded in 2021 by Romita Mazumdar, the D2C brand has served over 15 lakh  customers and offers skincare portfolio. It has also begun offering body care products 

Romita Majumdar, Founder, Foxtale told businessline, ”With KOSÉ Corporation, Foxtale will look at an expanded and elevated R&D process for further innovation. We want to leverage on their global expertise for the same. We will ramp up spends in R&D and look at establishing atleast one state-of-the-art R&D centre which will focus on innovation and product development for Indian consumers. We want to focus sharply on addressing a persistent gap in high-quality beauty offerings in India and offer accessible skincare to wider base of consumers.” 

Foxtale has also inked a strategic partnership with KOSÉ corporation to expand the global beauty leader’s presence in India, she added

Majumdar explained that the D2C brand expects to end FY25 with revenues of ₹300 crore, garnering a growth of 150 per cent year-on-year. “We have been able to achieve this by focusing on just 20 SKUs which are our hero products and bestsellers. We expect to sustain this growth in the coming years. Our vision is to become a ₹1,000 crore brand over the next 4-5 years,” she added 

The company said that about 10 per cent of the revenues come from offline channel and that it has been very strategic in offline expansion strategy so far. 

Responding to a query on urban slowdown, Majumdar said, “We are not seeing any sluggishness in growth in the mass premium segment where Foxtale is positioned. The mass premium, premium and luxury segments continue to witness strong growth.”

In a statement, Kazutoshi Kobayashi, President & CEO of KOSÉ Corporation, “We are very happy to have concluded a capital and strategic partnership with fast-growing Foxtale in the premium mass skin care market on the occasion of the 10th anniversary of our entry into the Indian market. Through this partnership, we will take a major step forward into the next decade as we aim to establish a greater presence in the Indian market and expand our business.”