Singapore FMCG major Believe invests $8 million in e-commerce startup Ohsogo
- ByStartupStory | August 9, 2022
Believe Pte, a Singapore-based FMCG company has invested $8 million in Ohsogo, a cosmetics and skincare e-commerce firm that offers a curated selection of worldwide brands and authentic items.
Ohsogo, which was founded in Bangladesh by Zunaid Ahmed Palak, the state minister for Information and Communication Technology, is already the country’s number two beauty and skincare e-commerce business.
“With increased customer knowledge and changes in their purchasing behavior, the skincare and beauty sector has experienced a revolution,” said Shobhit Garg, company head at Ohsogo.
The category is difficult to break into, but we hope to simplify things for consumers through technology and creativity.” Only a few firms are currently active in Bangladesh’s e-commerce, skincare, & beauty industries, and the introduction of Ohsogo has opened the way for direct-to-consumer (D2C) enterprises to enter the market.
A few established direct-to-consumer (D2C) businesses from neighboring countries may venture into Bangladesh to catch the fast-developing beauty and personal care (BPC) industry.
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