D2C skincare brand Foxtale raises $30 Mn

Foxtale, a direct-to-consumer (D2C) skincare brand, has secured $30 million (approximately Rs 250 crore) in a funding round led by Japanese beauty products company Kose Corporation. Existing investors Z47 (formerly Matrix Partners India), Kae Capital, and Panthera Growth Partners also participated in this round.

This marks Foxtale's second capital infusion within a year, following an $18 million round in June 2024.

The company plans to utilize the fresh capital to expand its product range and enhance its online presence. It has also entered into a strategic partnership with KOSÉ Corporation to expand the global beauty leader’s presence in India.

Foxtale, founded by Romita Mazumdar in 2021, is an affordable skincare brand focused on products designed for Indian skin, targeting issues such as acne, aging, and hyperpigmentation. Its products are available on its website and various marketplaces, including Nykaa, Amazon, Blinkit, Flipkart, and Myntra.

According to the company, 50% of its revenue comes from its website, 40% from online marketplaces and quick commerce platforms, and the remaining 10% from offline sales channels.

Foxtale now serves over 15 lakh customers with 20 skincare SKUs. In 2024, it launched a bodycare range, supported by a consumer panel of 11,000 women. The brand is available on major marketplaces and in over 1,000 stores nationwide.

Foxtale reports a 150% growth in FY25, more than doubling its revenue from the previous year. With this rapid expansion and strong customer retention, the company aims to reach profitability by the end of the next financial year. This impressive growth has been driven by a focused product lineup of just 20 SKUs, with standout performers across most skincare subcategories.

Foxtale competes with well-established players like Sugar Cosmetics, WOW Skin Science, Plum, MamaEarth, Minimalist, and several others.