India’s grooming products provider for both men and women company LetsShave acquired by Dorco Korean Company which is into the razor business since long run. The Dorco has taken a 10% stake in the LetsShave Company. Both companies did not reveal the amount for the 10% stake in the company.
LetsShave is the Chandigarh-based company which mainly provides the grooming and Razer products for the men and women. The company started in the year 2015 by Sidharth Oberoi. The core business of the company is supplying of Razors. In the initial stages of the company only partnered with Dorco. We provide the products over 130 countries around the world; the product reached more than 100 million satisfied customers.
Dorco, the Korean company started its operation in the year 1955. The company provides the best blades to the customers. The company headquarters at San Diego. The company wants to provide the best shaving experience for the customers.
The founder and CEO of LetsShave Sidharth spoke about the deal:
“We are happy that our partner is going to become one of the investors in the company that will be the great boost and helps to expand the business”; they did not disclose the amount for the deal.
The grooming industry in the men will be $2.2 million by 2020 according to the research firm Euromonitor.