Navigating Growth Waves: Shantanu Deshpande’s Bombay Shaving Company Rides the Beauty and Personal Care Boom Post-Pandemic

The founder of Bombay Shaving Company, Shantanu Deshpande, steered his brand through the turbulent waves of the pandemic, emerging not only resilient but thriving in the beauty and personal care industry. The journey unfolded new opportunities, product lines, and strategic shifts, propelling Bombay Shaving Company into a leading position with an annual recurring revenue (ARR) of Rs 100 crore.

During the lockdown, Deshpande’s keen observation and a conversation with his wife sparked a revelation—there was a significant gap in the market for women’s shaving products. Capitalizing on this insight, Bombay Shaving Company launched a line of women’s hair removal products, filling a niche that had been overlooked. Today, the company commands a 7 percent market share in this segment, showcasing its agility in responding to market needs.

The pandemic served as a blessing in disguise for many companies, providing a window to reassess strategies. For Bombay Shaving Company, the lockdown prompted a re-evaluation of existing approaches, including employee skill-building and potential rebranding. With an online-focused model, the brand found it easier to compete in the digital space, contributing to a 3.5x growth, reaching an ARR of Rs 100 crore.

A strategic funding infusion of Rs 45 crore from Reckitt Benckiser in January further empowered Bombay Shaving Company. The brand now eyes a faster scaling of its offline business, emphasizing the offline-friendly men’s shaving category. With 25 percent of the business stemming from offline channels, the company anticipates accelerated growth in the physical retail space.

Plum, a vegan skincare company, echoed the trend of post-Covid growth in the personal care sector. Experiencing a 2.5x surge in growth, Plum’s ARR catapulted from Rs 70 crore to Rs 200 crore within a short period. Despite the initial challenges during the lockdown, the company expanded its product portfolio and set sights on international markets for the coming year.

Rohit Chawla, CEO of Bare Anatomy, highlighted the agility of direct-to-customer (D2C) brands in bouncing back compared to larger retail-oriented companies. While facing challenges in a crowded online space, Bare Anatomy adopted innovative approaches, launching skincare lines during the pandemic. The company’s focus on technology and repeat user engagement contributed to a 4x revenue growth.

Delhi-based Arata’s strategic decision to remain internet-first shielded the company during the pandemic’s uncertainties. Dhruv Bhasin, co-founder, credits this decision for saving the company from significant revenue losses. With a 4x increase in sales since February 2020, Arata aims to expand into international markets, further solidifying its position in the clean and safe personal care niche.

MyGlamm, a beauty brand, took a multifaceted approach to growth. Acquiring women-centric digital platform POPxo expanded its digital reach and consumer understanding. The company’s offline model witnessed substantial growth, with point of sales expanding from 500 to 10,000 during the pandemic. Riding this momentum, MyGlamm is on track to reach an ARR of Rs 600 crore by December 2021.

Industry insiders predict a hybrid model, merging offline and online channels, as the future of the beauty and personal care category. Tier 2 and Tier 3 cities emerge as significant contributors to revenue, indicating a shifting consumer landscape. MyGlamm, for instance, experienced a notable shift, with 60 percent of revenue coming from Tier 2 and 3 cities, showcasing the expanding market reach.

In navigating the beauty and personal care boom post-pandemic, these brands exemplify resilience, adaptability, and strategic foresight. Shantanu Deshpande’s Bombay Shaving Company, alongside other industry players, stands as a testament to the transformative power of innovation and customer-centric approaches in a rapidly evolving market.