D2C skincare brand Foxtale secured $18 million (around ₹150 crore) in funding. Singapore’s Panthera Growth Partners led this Series B round. Existing investors Matrix Partners India and Kae Capital also participated.
IndigoEdge was Foxtale’s exclusive financial advisor on this transaction.
The fresh funds will fuel Foxtale’s growth plans, which include expanding its online presence and launching new product lines.
“At present, we are generating Rs 250 crore gross revenue and will be hitting profitability in FY25. So, the series B round will be used to further augment our growth, for profitability, and for taking Foxtale from a Rs 250 crore to a Rs 1,000 crore brand, ” she said.
“We’ve already hit profitability post-marketing expenses and by this fiscal end, we are eyeing 5 per cent EBITDA profitability,” she added.
Foxtale will be expanding its product portfolio beyond skincare. In July, they’ll be launching 4 new items (SKUs). By December, they plan to introduce another beauty and personal care (BPC) category.
“We plan to introduce 4 more SKUs by the next fiscal end in the bodycare category. Within the first year of operations, we expect this category to be profitable and contribute Rs 45 crore towards the revenue,” she said.
The brand currently has 18 items (SKUs) and aims to reach 25 by the end of the fiscal year, expanding into body care alongside its existing skincare range.
Their sales channels are also diverse: 12% comes from offline stores, 38% from online marketplaces, and 50% from their website.
“Digital is growing 20 percent month-on-month for us,” she asserted.
Currently, the brand has a presence in 2,500 general trade stores across seven cities in India.
“Last fiscal, we cut down our offline presence from 3,000 stores in 12 cities to our current presence because of working capital burns. We decided to go ahead with the stores that were clocking high revenue. As a result, our digital revenue grew faster than we were expecting, and that’s why we ended up meeting our fiscal year numbers as expected,” she explained.
The brand, which closed the last fiscal at Rs 172 crore GMV sales, is eyeing Rs 400 crore plus this fiscal.
