Romita Mazumdar, who founded Foxtale in 2021 on the partnership with KOSÉ Corporation, growth drivers for Foxtale, expansion plans and more
Romita Mazumdar, Founder, Foxtale
Image: Neha Mithbawkar for Forbes India
On Wednesday, skincare brand Foxtale announced that it has raised $30 million (approximately Rs250 crore) in its Series C funding round. This round saw participation from Japanese cosmetics and skincare manufacturer KOSÉ Corporation, along with Panthera Growth Partners, Z47, and Kae Capital. The company has also forged a strategic partnership with KOSÉ Corporation to enhance the global beauty leader's footprint in India.
Founded in 2021 by Romita Mazumdar, Foxtale uses modern science and technology to create innovative skincare products. Along with KOSÉ Corporation, Foxtale will look to expand and elevate R&D process for further innovation, focus on quality and enhance product efficacy and elevate self-care experiences.
“This funding by KOSÉ Corporation will enable us to scale faster, innovate deeper, and bring effective and accessible skincare to even more people across India. Beyond growth, this partnership also marks a step towards fostering stronger global relations, blending international expertise with local insights,” says Mazumdar.
The funds from the fresh fund raise will be directed towards deepening its footprint in existing markets and strengthening its R&D capabilities to drive continuous product innovation in efficacious skincare formulations. However, Foxtale is planning to focus on Indian expansion and not look at global markets, at present.
Mazumdar says, “My vision is to grow Foxtale into a Rs1,000 crore company, up from the current Rs 300 crore plus in gross revenue.” The company claims to have achieved 150 percent growth in FY25, more than doubling last year’s revenue, driven by its strong focus on D2C through its website. In conversation with Forbes India, Mazumdar talks about how the partnership with KOSÉ Corporation came about, growth drivers for Foxtale, expansion plans and more. Edited excerpts: