Foxtale, a direct-to-consumer (D2C) skincare brand, has raised $30 million in a Series C funding round led by Japanese cosmetics giant KOSÉ Corporation to enhance research and development, deepen its presence in the Indian market, and boost customer retention.

This funding round, including existing investors Panthera Growth Partners, Z47, and Kae Capital, marks another significant step in Foxtale’s journey since its inception in 2021.

Foxtale’s collaboration with KOSÉ Corporation aims to leverage the Japanese beauty leader’s expertise to expand its footprint in India. The partnership underscores KOSÉ’s commitment to the Indian market while giving Foxtale access to global industry insights and innovation.

Foxtale Accelerating Growth with Fresh Capital

The company plans to allocate $30 million to enhance its research and development (R&D) capabilities, expand its product range, and deepen its presence in India. According to Foxtale’s founder and CEO, Romita Mazumdar, the brand caters to Indian skin needs with affordable, high-quality skincare solutions. Foxtale’s offerings, which address concerns like acne, aging, and hyperpigmentation, have already served over 1.5 million customers nationwide.

“For us, quick commerce is growing extremely fast. It is profitable, and we feel confident in continuing to scale the sub-categories we have built through our other digital platforms. Most of our products on quick commerce channels usually grow 6x-7x within six months of launch,” Romita Mazumdar said.

“We are roughly at a scale of INR 300-350 crore in gross revenue and have grown 150 percent over last year. We will also have category expansion over the next one or two years. Currently, we are only in skincare with around 18-20 SKUs (stock-keeping units) and limited SKUs in body care,” she said.

Impressive Revenue Streams and Customer Retention

Foxtale’s revenue distribution reveals a robust online presence, with 50 percent of its sales coming directly from its website, 40 percent from online marketplaces like Nykaa and Amazon, and the remaining 10 percent through offline retail channels. Notably, the brand’s customer base has grown rapidly, driven by its streamlined product lineup and innovative marketing strategies.

Foxtale’s in-house R&D team develops all its products, taking 18 to 24 months to perfect each formula. The recent funding will further strengthen its commitment to innovation, ensuring the development of products tailored to the Indian market. With a focus on customer insights, the company has engaged a consumer panel of 11,000 women to refine its product offerings.

Achieving Profitability Amidst Market Challenges

Despite a challenging market landscape for D2C brands, Foxtale has maintained an impressive 150 percent growth rate for FY25. Its streamlined product portfolio of 20 skincare SKUs, including a newly launched bodycare range, has positioned the company for sustainable growth. With plans to achieve profitability by the next financial year, Foxtale continues to set benchmarks in the Indian skincare industry.

Foxtale’s growth trajectory places it alongside competitors such as Sugar Cosmetics, WOW Skin Science, Plum, MamaEarth, and Minimalist. The brand’s focus on quality, innovation, and affordability sets it apart, paving the way for continued success in a competitive market.

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