GlobalBees forays into personal care segment, acquires Prolixr
- ByStartupStory | October 26, 2021
GlobalBees Brands Pvt Ltd, a company that aggregates and invests in e-commerce brands, has acquired Prolixr, a skincare brand for the younger generation, marking an entry into the personal care segment, is expected to reach $37.2 billion in India by 2025. This is the third acquisition in three months following the acquisition of a healthcare startup and Durable Home Care Manufacturer. Sustainable The Better Home.
The Prolixr deal comes at a time when GlobalBees, a digital brand aggregator, is also in talks with two major investors to raise around $300 million at a unicorn valuation.
Prolixr’s founders and over 25 team members will be part of the GlobalBees family. Currently, the company is listed on more than 25 markets such as Nykaa, Amazon, Purplle and others.
Prolixr, founded in 2018 by Jayesh Hans, Mayur Mahajan and Aditya Sharma, has developed affordable, high-quality products with progressive formulations suitable for Indian skin types. It offers skincare products like seaweed detox masks, scrubs, berry moisturizers, scientifically-backed serums and more. Many Prolixr products have gone mainstream on social media, the company said.
The Prolixr team has a deep understanding of what young people are looking for in their skincare regimen. The company has established itself as the market leader in its niche. Nitin Agarwal, CEO of Globalbees, said that with its unique services, exclusive products and undisputed craftsmanship, the brand has strong growth potential to disrupt the skincare market. Global.
GlobalBees was founded earlier this year by FirstCry founder Supam Maheshwari and former Financial Services executive Edelweiss Nitin Agarwal with a capital of $75 million. In July, she raised $150 million in equity and debt.
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