Singapore FMCG major Believe invests $8 million in ecommerce startup Ohsogo
Singapore-based FMCG major Believe Pte has invested $8 million in beauty and skincare ecommerce startup, Ohsogo, which caters to a curated assortment of international brands and authentic products.
Launched in Bangladesh by Zunaid Ahmed Palak, state minister for Information and Communication Technology, Ohsogo is already ranked number two among beauty and skincare e-commerce players in the country.
Shobhit Garg, business head, Ohsogo said, “With the growing customer awareness and changes in their purchase behaviour, the beauty and skincare market has undergone a revolution. The category is a tough crack, but we aim at making things simpler for the consumer, with technology and innovation.”
Only a handful of players are currently present in the ecommerce, skincare, and beauty industries in Bangladesh and the launch of Ohsogo has opened doors for direct-to-consumer (D2C) businesses within the industry to enter the market.
A few established D2C brands from neighbouring countries might branch out into Bangladesh to capture the rapidly expanding beauty and personal care (BPC) market.
Singapore FMCG major Believe invests $8 million in ecommerce startup Ohsogo. Congratulations to the entire team. I wish you great success in this endeavour.Shishir Gupta, Founder and CEO, StartupLanes
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