Foxtale, a D2C skincare brand, has secured $30 million (approximately Rs 250 crore) in a Series C funding round led by Japanese multinational KOSÉ Corporation. The round also saw continued participation from Panthera Growth Partners, Z47, and Kae Capital. The company’s partnership with KOSÉ Corporation aims to bolster the global beauty giant’s footprint in India, creating a synergy that combines Foxtale’s D2C expertise and deep understanding of the Indian beauty market with KOSÉ’s global experience.
“This collaboration is poised to redefine beauty standards in India, a billion-dollar market,” said Romita Mazumdar, founder of Foxtale. Speaking to Business Today, Mazumdar emphasised that the newly raised funds would be channelled into enhancing the company’s R&D capabilities. “We’ve always considered research to be the foundation of our brand’s success, and we’re committed to continuing our investment in advanced technologies. This will enable us to create even more targeted and innovative skincare solutions, specifically designed to meet the unique needs of Indian consumers. By pushing the boundaries of innovation, we aim to stay ahead in the market and keep delivering products that truly make a difference.”
Founded in 2021, Foxtale plans to leverage KOSÉ’s advanced technological prowess in R&D to expand its innovation pipeline. While the brand currently offers 20 SKUs, Mazumdar hinted at the possibility of introducing new product lines. “The funding by KOSÉ Corporation will enable the company to scale faster, innovate deeper, and bring effective and accessible skincare to even more people across India,” Mazumdar said. “Beyond growth, this partnership also marks a step towards fostering stronger global relations, blending international expertise with local insights.”
Kazutoshi Kobayashi, President and CEO of KOSÉ Corporation, highlighted the significance of the partnership. “We are very happy to have concluded a capital and strategic partnership with fast-growing Foxtale in the premium mass skincare market on the 10th anniversary of our entry into the Indian market. Through this partnership, we will take a major step forward into the next decade as we aim to establish a greater presence in the Indian market and expand our business,” he said.
Differentiating itself from competitors, Foxtale prioritises efficacy and customer-centric solutions over fleeting trends. “Our dedication to quality and efficacy is reflected in our loyal customer base, with many coming back for more,” Mazumdar noted. She also discussed the brand’s profitable offline channel, which contributes 10% of the revenue and operates with minimal receivable days. “Many of our distributors across India work on an advance payment model, which aligns with our strategy to maintain an optimal working capital cycle for the business. With this approach, we will continue to grow our offline presence with discipline and a focus on the right metrics.”
Although Foxtale is yet to turn profitable, it has achieved 150% growth in FY25, doubling last year’s revenue of Rs 300 crore. Most of its sales—50%—come from its own platform, while 40% are derived from other online channels, including e-commerce and quick commerce. The remaining 10% comes from its offline reach.
With a strategic roadmap in place and the backing of a global beauty powerhouse, Foxtale is positioned to make significant strides in India’s thriving skincare market.