Leadpreneur's
Fast growing Make-up Brand in Indian Market...
RENÉE is a new beginning. Your rebirth. Awaken!
RENÉE Cosmetics is an Indian cosmetic company that is challenging traditional beauty standards with its top-notch, 100% cruelty-free, and a cutting-edge assortment of items. RENÉE insists on encouraging women to proudly showcase their ambitious selves and let their glamor speak for itself. This business, which goes right to the consumer, is completely revolutionizing beauty with its superior quality, animal-friendly, and FDA-endorsed products that celebrate the modern-day woman.
Founder, Founding Year, and HQ Location:
RENÉE was founded by Ashutosh Valani, Priyank Shah, and Aashka Goradia Goble in 2018, headquartered in Ahmedabad.
Business Model:
D2C is an acronym for direct-to-consumer. A company manufactures a product in its own facilities and distributes it through its own channels. These channels might include an e-commerce site, social media, and a physical store. It is applicable to practically every industry.
Product Marketing countries:
RENÉE sells its goods in India, UAE, and America.
Lead investors in the company:
9Unicorns Accelerator Fund Mumbai (India) $1.5M Equanimity Investments Mumbai (India) Mensa Brands Bengaluru (India) ₹750M.
Total revenue:
Renee Cosmetics has raised a total of $38.8M in funding over 3 rounds. Their latest funding was raised on Dec 6, 2022, from a Series B round.
Growth:
RENEE Cosmetics has just closed a Series B funding round, led by Evolvence India, raising $25 million with the participation of Edelweiss Group and the existing investors, Equanimity and 9Unicorns.
With this round, the company has now reached a total of $36 million in the capital, which has valued it at approximately $100 million. In addition, earlier this year, RENEE secured $10 million in a Series A investment round, headed by e-commerce unicorn Mensa Brands.
Furthermore, in June, RENEE reported that, since resuming its operations post Covid-19 in 2020, it had managed to surpass the annual revenue rate of Rs 100 crore within 20 months.
The cosmetics firm also mentioned that it has a repeat rate of over 25% and has sold more than 2 million units with a reach of 50 million consumers.
Ashutosh Valani, one of RENEE’s co-founders, expressed that the company is aiming to reach a revenue of Rs 200 crore by 2023 and become a Rs 500 crore firm by 2024.
Marketing Strategies:
Because RENÉE is a digital-first company, social media is without a doubt their primary channel for communicating with and engaging with their customers.
Their social media approach creates a mix between original marketing and fascinating content that informs and showcases the usage and texture of RENÉE products.
Their distinctive intellectual property on social media is what distinguishes them from other businesses.
Rashmika Mandanna has recently been appointed as the official representative of the esteemed Indian Beauty Brand RENEE Cosmetics.
Distribution- RENÉE is presently a digital-only company, selling through its own channels as well as online marketplaces like Amazon, Flipkart, and others. It is already considering offline retail expansion and hopes to have an offline presence in all four zones by the end of the year.
The technology used by the company- Renee is known for its innovative tactics, which involve using the most advanced technology to reach our target market. They utilize AR filters and other devices to make it easier for customers to understand and take advantage of their goods. Additionally, by studying the competition and global businesses, they keep up with the most recent trends, allowing us to come up with creative ideas continuously.
Future:
RENÉE is currently a top-tier brand in online stores and is striving to expand into overseas markets. It seeks to provide its customers with up-to-date items that give them a sense of confidence, freedom, and appreciation. These products must be of superior quality, affordable, reachable, and professional.
For the coming year, they have grand ambitions for the RENEE name. Their mission is to make the brand available to every corner of the country and beyond. They are working on creating specific items that their customers can relate to and that are equipped with top-notch features. Moreover, they aspire to enlarge their selection with more modern products, multiple colors, and sophisticated goods.
Furthermore, they intend to broaden their offline presence and open 1,000 store-in-stores across India by the end of 2022