Simply Nam Secures Strategic Funding from Bhaane Group
In a significant development, Simply Nam, a popular beauty and skincare brand co-founded by celebrity makeup artist Namrata Soni and entrepreneur Hanna Strömgren Khan, has secured a strategic investment from the Bhaane Group, led by Anand Ahuja and Sonam Kapoor. This latest funding round marks a significant milestone for the brand, which has been gaining momentum in the Indian beauty market.
Founded in 2019, Simply Nam has made a name for itself by offering a range of natural and organic skincare products that cater to the diverse needs of Indian consumers. The brand’s products are designed to be effective, gentle, and easy to use, making them a favorite among beauty enthusiasts. With this new funding, Simply Nam plans to expand its product portfolio and scale its operations across India’s beauty market.
The Bhaane Group, a well-known fashion and lifestyle company, has been at the forefront of investing in innovative and promising startups. Led by Anand Ahuja, a successful entrepreneur and investor, the group has a track record of identifying and nurturing successful brands. The investment in Simply Nam is a testament to the brand’s potential and growth prospects.
“We are thrilled to partner with the Bhaane Group, which shares our vision of creating a more sustainable and responsible beauty industry,” said Namrata Soni, co-founder of Simply Nam. “This funding will enable us to further expand our product range and scale our operations, making us a dominant player in the Indian beauty market.”
Under Soni’s guidance, Simply Nam has been able to build a loyal customer base, with over 40% of its customers returning for repeat purchases. The brand’s monthly revenue has also grown significantly, reaching ₹2 crore, a testament to its popularity and effectiveness.
The beauty and skincare market in India is rapidly growing, driven by increasing awareness of the importance of personal care and the availability of a wide range of products. According to a report by ResearchAndMarkets.com, the Indian beauty and personal care market is expected to grow at a CAGR of 10.5% between 2020 and 2025, driven by increasing disposable incomes and changing lifestyles.
Simply Nam’s focus on natural and organic ingredients, as well as its commitment to sustainability, has resonated with Indian consumers who are increasingly seeking eco-friendly and effective beauty products. The brand’s products are free from harsh chemicals, artificial fragrances, and dyes, making them a preferred choice among those who prioritize their skin health.
The investment from the Bhaane Group will enable Simply Nam to further expand its product range and scale its operations, making it a dominant player in the Indian beauty market. The brand plans to use the funding to increase its marketing efforts, expand its distribution network, and explore new markets.
“Simply Nam’s commitment to using natural and organic ingredients, as well as its focus on sustainability, resonates with our values at the Bhaane Group,” said Anand Ahuja, CEO of the Bhaane Group. “We believe that the brand has immense potential and are excited to partner with Namrata and Hanna to take Simply Nam to the next level.”
In conclusion, the strategic funding from the Bhaane Group is a significant milestone for Simply Nam, marking a new chapter in the brand’s growth story. With its focus on natural and organic ingredients, commitment to sustainability, and loyal customer base, Simply Nam is well-positioned to become a dominant player in the Indian beauty market.
Source: https://startuptalky.com/news/simply-nam-secures-strategic-funding-bhaane-group/
