Deepika Padukone’s Personal Care Brand 82°E to Raise Rs 50 Crore

In the thriving landscape of India’s beauty and personal care market, Bollywood icon Deepika Padukone is steering her entrepreneurial ship, 82°E, towards a significant financial milestone. The brand is set to bolster its resources by raising Rs 50 crore ($6 million), marking a strategic push to expand its presence and influence within the industry.

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What is Deepika Padukone’s Latest Business Venture?

Launched in 2021, 82°E is a direct-to-consumer (D2C) personal care brand co-founded by Deepika Padukone and Jigar Shah. The brand derives its name from the longitudinal reference of the standard meridian passing through India, symbolizing its deep roots and commitment to catering to Indian consumers. Offering a variety of skincare products, 82°E aims to blend efficacy with luxury, making high-quality personal care accessible to a broad audience.

How Much Funding is 82°E Planning to Raise and Who are the Investors?

Deepika’s venture is on course to enhance its financial footing by raising Rs 50 crore from a mix of new and existing investors. Among the notable backers is Ka Enterprises, an investment firm with a history of supporting successful startups such as Epigamia and BluSmart, and which is closely associated with Padukone herself. This round of funding is intended to fuel further growth and expansion, consolidating 82°E’s standing in a competitive market.

What Products Does 82°E Offer and What Was Its Performance in FY23?

82°E boasts a diverse portfolio of skincare essentials designed to meet the needs of both men and women. Its product range includes everything from moisturizers and serums to sunscreens, each crafted to suit the Indian climate and skin types. In its first full fiscal year, the brand achieved a revenue of Rs 10.4 crore, a testament to its growing acceptance and success in the domestic market.

How Does 82°E Fit into the Growing Indian Beauty Market?

The Indian beauty market is burgeoning, projected to reach a valuation of $30 billion by 2027 with a compounded annual growth rate of 10%. In this rapidly expanding environment, 82°E is positioning itself as a brand that understands and addresses the unique dermatological needs of the Indian populace. With its focus on inclusivity and authenticity, 82°E is not just selling products but also curating experiences that resonate with the cultural and aesthetic preferences of its customers.

Who are the Founders of 82°E and What are Their Goals?

Besides Deepika Padukone, the brand was co-founded by Jigar Shah, a seasoned entrepreneur with expertise in consumer brands. The founding duo aims to create a brand that embodies trust, innovation, and quality, intending to make 82°E a household name in personal care. Their vision extends beyond commercial success; they aspire to empower consumers with products that enhance self-care and wellness.

Why Are Celebrity-Led Brands Becoming Popular in India?

Celebrity-led brands are gaining momentum in India as consumers increasingly trust the personal endorsements and authenticity that come from admired figures in the public eye. Celebrities like Deepika Padukone bring visibility, credibility, and a personal touch to their brands, which helps in carving out a unique market niche. This trend is further supported by the success of brands launched by other Bollywood actresses, demonstrating the powerful influence of celebrity in consumer decision-making.

Conclusion

As 82°E gears up for its next phase of growth with a significant capital infusion, the brand is well-positioned to make a lasting impact on the Indian beauty industry. With a strong foundation, celebrity influence, and a clear vision, 82°E is set to redefine personal care standards while championing the ethos of modern Indian beauty