Zlade partners with European giant BIC to launch superior shaving razors in India, seals $1.5 mn in funding through angel investors and family offices
New Delhi, January 2023: Zlade, a home-grown digitally native, omnichannel personal care brand that has been on a rapid rise in this industry, has inked an exclusive partnership with BIC, a leading manufacturer of shavers and razor blades to introduce a complete portfolio of men’s and women’s shaving razors to India. With over 75 years of experience in the industry, BIC as an industry veteran will lend its manufacturing expertise to Zlade in a bid to offer superior quality smart shaving solutions.
Zlade has also raised a round of funding from multiple family offices, including Shivanssh Holdings (Vikas Poddar Family Office) and Amit Kalyani, amounting to $1.5 mn. The brand is also in advanced talks to raise another $1.5 mn in equity funding from marquee investors and family offices.
According to IMARC, India is one of the fastest growing markets for men’s grooming products. It was valued at US$ 1.86 bn in 2021 and has a projected CAGR of 7.93% during 2022-2027. Zlade seeks to capitalize on this booming trend with its consumer-first approach and offers high-quality products at competitive prices compared to other leading brands in the segment.
Speaking about this partnership, Thomas Brette, BIC Group Partnerships & New Business Officer said, “Our partnership with Zlade is part of the business-to-business strategy for our Blade Excellence division. Zlade is on a strong growth trajectory. Its founders have built a team with a solid focus on resolving consumer pain points and we are excited to support with our blade innovation and manufacturing expertise.”
“We are delighted to joined hands with BIC. As a pioneer in the men’s grooming segment in India, we are singularly focused on building a brand that owns the men’s shaving and intimate grooming space. Over the past 4 years, it has been our constant endeavour to align with the right partner for getting superior quality razors to the Indian consumer at the right price. As we boost our operations by building an omni-channel presence, we needed the support of a legacy brand that could guide us on scaling up our capabilities,” said Mihir Vaidya, Co-founder & Co-CEO of Zlade.
“We have spent the last 10 months with BIC in selecting product offerings specifically to cater to the needs of the Indian consumer. The result is a portfolio of premium razors and affordable readyshavers that will cater to the entire Indian demographic; from urban India to the remotest village in the country, delivered through our deep proliferation via online and offline distribution,” he added.
“Zlade has shown tremendous growth by transcribing change in the men’s intimate grooming industry through innovative and A-class quality products. They are the pioneers of new-age men’s grooming solutions, creating a strong niche as a company. Our investment in Zlade is in line with our thesis of investing towards branded consumer products that are catering to problems of new India, scaling consistently and high recall value. We , as a family office are excited to partner Zlade on their journey ahead. “ adds Yash Poddar, Co-Principal and Chief Investment Officer , Vikas Poddar Family Office ( Shivanssh Holdings).
Sharing his thoughts on the recent developments, Amit Kalyani, Bharat Forge, one of the early investors in Zlade, congratulated the team and said, “Zlade is a technologically innovative company and I am happy to be a part of their journey. I have known the founders for a long time.”
Zlade has witnessed exponential development since its inception, and has also joined the Government of India’s Startup India initiative. It has a substantial online presence, with major presence on marketplaces like Amazon, Flipkart, Snapdeal, Nykaa and BigBasket in addition to its own D2C website. Present in more than 10,000 retail outlets across 13 states in India, the brand aims to grow to 1,00,000 retail outlets in FY24.