your password has been reset successfully, Please login again.

Korean razor maker Dorco acquires 10% stake in LetsShave

This is Dorco's first investment in Indian men's and women's grooming product range startup.
BY BEx Bureau
BusinessEx
Oct 25, 2018

Dorco Ltd, a Korean razor manufacturer, has acquired 10% stake in a Chandigarh-based startup LetsShave Pvt Ltd in Series A funding. This is Dorco's first investment in Indian mens and womens grooming product range startup.

The funds will be used by LetsShave for strengthening its online business and expand its product portfolio. Founded in 2015, LetsShave had partnered Dorco from the beginning for the supply of razors.

Sidharth S Oberoi, Founder of LetsShave, said, "We want to become a one-stop solution for grooming while keeping shaving as our core category. This investment has given both the companies a great opportunity to share unique resources and capabilitiesto create a competitive advantage in the market. We believe that this alliance will ensure life-long product supply for the Indian market and help us introduce advanced products."

LetsShave is presently selling 22 grooming products for men and women. The startup plans to expand its portfolio to 44.

Ken Kwak, Director of Dorco, said, "Acknowledging their enthusiasm and vision for the grooming business, and their differentiated capabilities, we considered LetsShave as the best partner for our long-term vision for the Indian market."

Dorco is headquartered in Seoul. It manufacturers low-cost disposable razors, shavers, shaving systems and shaving accessories for both men and women.

Please add your Comment
SIMILAR News
July 22, 2019
The Canada-based investment company, Brookfield Asset Management will plough in INR 25,215 crore in ...More
By Jaspreet Kaur
July 22, 2019
The acquired company, Red Hat, which essentially specialises in Linux operating systems, offers engi ...More
By Jaspreet Kaur
July 20, 2019
Reliance Brands, a division of Reliance Industries, has acquired the British toy retailing firm, Ham ...More
By Jaspreet Kaur
July 20, 2019
The acquired plant is presently producing 2.1 million bags of intravenous infusions every month.  ...More
By Jaspreet Kaur
July 19, 2019
The companies said in a statement, “they have also reached an agreement that will make eBay inventor ...More
By Jaspreet Kaur
July 18, 2019
Software company, Ebix Inc. proclaimed to have signed a concord to buy Yatra Online Inc. in a transa ...More
By Jaspreet Kaur
July 18, 2019
Delhi-based Procol will use the funding to scale its procurement platform and begin deploying other ...More
By Jaspreet Kaur
July 17, 2019
As per the concord, Cipla will invest around INR 164 crore in the joint venture for 4 years, said th ...More
By Jaspreet Kaur
July 17, 2019
Valberg has made INR 3 crore investment in the agri-marketing company, which is a part of $90 millio ...More
By Jaspreet Kaur
July 16, 2019
The VC firm, Unicorn will search for startup companies in various sectors like fin-tech, robotics, g ...More
By Jaspreet Kaur
July 16, 2019
Ecozen essentially creates products which are targeted at farmers in order to help them grow yields, ...More
By Jaspreet Kaur
July 11, 2019
The company manufactures and sells menswear clothing online; It performs the entire manufacturing an ...More
By Jaspreet Kaur