Samara invests in Indian personal care space

Samara’s interest was acquired from members of the Singh family, which founded Blue Heaven 40 years ago and will retain a 50% share in the company. Blue Heaven manufactures a range of color cosmetic products, including eye liner, lipstick, nail enamel, and foundation. Its revenue last year came to over INR1.6 billion ($23.2 million).

The company will use the new capital to invest in marketing and distribution, along with consolidation of group entities. Samara plans to work with Blue Heaven to build out the management team and reform its internal structure in preparation for future growth.

The Blue Heaven investment follows a commitment of INR2 billion by Samara to skin care company Nature’s Essence. The company manufactures face care products such as face washes and bleaches, as well as body lotions, creams, and gels. Its products are sold in over 200,000 retail outlets and 40,000 beauty salons across India.

Samara is currently investing its second fund, which launched in 2012. The firm is sector-agnostic but primarily targets companies in the consumer products and retail, healthcare and pharmaceuticals, financial services, and infrastructure space. Recent consumer sector investments include last year’s purchase of Aditya Birla Retail alongside US e-commerce giant Amazon.

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• Topics
• South Asia
• Consumer
• Expansion
• India
• Samara Capital
• Growth capital