Earlier, females were the only target customers for the grooming products. But now, times have changed. Many new grooming products are available in the market for males. Now grooming has become a gender-neutral term. The young generation is mainly inclined towards grooming because they want to impress society with good looks. So, here’s the story of Bombay Shaving Company that has started its journey to fulfill the need for men grooming products.
In India, the men’s grooming market was only limited to shaving creams. There was always a potential for men’s grooming products in the market. Bombay shaving company saw the potential in this unorganized market segment. So, they have launched products like soaps, shampoos, perfumes, body wash, etc.
How the story of Bombay Shaving Company began?
In 2015, four friends Deepu Panicker, Rohit Jaiswal, Shantanu Deshpande, and Raunak Munot had seen the opportunity and founded the Bombay Shaving Company.
Shantanu Deshpande, who was working as a software engineer for McKinsey in the US. One day he met an intern at a New York-based shaving brand and discussed the competition of the new and established brands. After the discussion, Shantanu realized that the new brands were giving good competition to brands like Gillette.
By doing a quick survey on shaving habits, he decided to start the Bombay Shaving Company. Raunak, a school friend of Shantanu, who was working as the Director of Social Strategy in GroupM New York, and two college friends Rohit, working as Head of Channel at Emel and CG, and Deepu, who was working as a senior analyst at McKinsey had also joined.
The Growth of Bombay Shaving Company
The Bombay Shaving Company has worked with world-leading raw materials, fragrance manufacturers, and expert chemical engineers. Word of mouth has helped them a lot in the starting days to gain the first 500 customers. And they are constantly developing their products based on customer feedback.
Customer satisfaction is always the priority for them. For example, when the customers wanted a new razor for an aggressive look, they have designed and shipped it for free. The customers also got the option to get their names on the razors as a personalization option for free. These are the key USPs of Bombay Shaving Company.
Most of the customers liked the unboxing experience and shared photos and videos on social media platforms. These helped them in their branding and led to getting more sales. They now have more than 40 products in all the categories.
In January 2021, Bombay shaving company has raised Rs 45 Crore ($6.1 Million) in a funding round led by UK-based multinational consumer goods company Reckitt Benckiser. And since the inception of the startup, they have raised a total of Rs 67 Crore ($9 Million) funding. The startup has raised funding from Colgate Palmolive, Sixth Sense Ventures, and other 30 angel investors.
The founder of Sixth Sense Ventures said, “Bombay Shaving Company has grown 3X since pre-COVID-19, found product-market fit in core categories, is expanding aggressively, and the team is incredible. With Reckitt joining the journey, we are very bullish and see the company continue to grab share across channels and categories. There are always founders whom we would love to back at all points, Shantanu is one such!”.
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