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Wipro Consumer Care - Ventures invests in LetsShave

Wipro

MUMBAI: Wipro Consumer Care – Ventures, the venture capital fund of Wipro Consumer Care & Lighting, has signed an agreement to invest in LetsShave Private Limited, who cater to male and female shaving and grooming markets.

LetsShave focuses predominantly on shaving category, and expanding into personal care categories like body care, skin care, electric trimmers, etc. The Company markets its portfolio of products for both men and women under the brand name of LetsShave. It has a strategic tie-up with Dorco, a Korean Company and one of the pioneers in the razor industry, manufacturing world's finest blades since 1955. Dorco has a 10% stake in LetsShave and is a global supplier to companies like Dollar Shave Club.

Mr. Sumit Keshan, Managing Partner, Wipro Consumer – Venture, said, “LetsShave offers high quality products and is a challenger brand in a space dominated by a single large player. They are a promising team with a strong understanding, usage of technology and have the ability to spot niche consumer requirements and respond quickly. Our investment in LetsShave is in line with our strategy of leveraging emerging online opportunities targeting the millennials. We plan to increase our portfolio in innovative start-ups in consumer brands and consumer-tech domains both in India and South-East Asia."

Mr. Sidharth S Oberoi, founder of LetsShave said “We had started our journey four years ago. During this period, we have made a strong presence as well as have received an unprecedented acceptance for our products from our consumers. We are excited to partner with Wipro Consumer – Ventures. Wipro Consumer Care is an established industry player globally having deep insights into the consumer diaspora in India, and we would like to leverage their expertise to chart a strong growth trajectory. We are committed to making LetsShave a sustainable and responsible one-stop solution provider for shaving systems, personal care and grooming for men and women”.

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