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ChrysCapital invests $50M in WOW Skin Science for minority stake

Personal care brand WOW Skin Science has stated that ChrysCapital, an India-focused private equity firm, will be investing $50 million in the company for a significant minority stake. 

The transaction is a combination of a primary raise for growth initiatives and a secondary sale by existing shareholders. 

Established in 2014 by brothers Manish and Karan Chowdhary, WOW Skin Science is one of India’s fastest growing new-age beauty and personal care companies available across e-commerce platforms, its own website, and brick-and-mortar stores.

WOW intends to maintain its growth drive by benefiting from its loyal customer base, increasing penetration across channels, and further developing its portfolio of brands and products. 

“ChrysCapital is a major India-focused private equity firm with deep experience and a proven track record across sectors. 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. We also look forward to working closely with Enhancin, ChrysCapital’s portfolio operations group, to achieve these goals,” said Manish.

WOW Skin Science is a “consumer-first” brand in the D2C Space and aims to optimize the consumer’s experience and address their issues and pain points by using technology and innovation. 

From being a digital-first brand, the company now wants to grow to become the leading brand in the toxin-free space within the larger FMCG sector. 

“Along with ChrysCapital, we are focused on creating value for all our consumers, employees, and stakeholders,” Manish added.

Ashish Agrawal, Managing Director, ChrysCapital, stated, “ChrysCapital is excited to partner with WOW Skin Science in its growth journey towards becoming a formidable house of brands in beauty and personal care. The 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 multifold by further increasing online penetration, driving pan-India offline expansion, and launching new brands in adjacent categories.” 

PricewaterhouseCoopers and J. Sagar Associates (JSA) advised Wow Skin Science while Quillon Partners advised ChrysCapital. 

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