Sequoia invests $17m in India’s Vini Cosmetics

According to LiveMint, the company's annual turnover is about INR1.75 billion and got a valuation 4.5 times of the topline.

Sequoia Capital India Managing Director Abhay Pandey said Vini Cosmetics is one of the fastest growing fast moving consumer goods (FMCG) companies that it evaluated in the recent past. "We expect it to close this year with revenue of INR2.5 billion," he said.

The funding will be used to expand the products portfolio by adding nutraceuticals, skincare and haircare.

Vini founder Darshan Patel was also part of the team that set up Paras Pharmaceuticals, which Sequoia held a stake in from 2006 to 2011.

A Credit Suisse report estimates leading FMCG companies will deliver 15-25% compound annual growth in earnings between 2012 and 2015 while maintaining high capital efficiencies.

In June, ChrysCapital Partners invested INR2.5 billion to buy a minority stake in Indian consumer goods producer CavinKare.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Consumer
• South Asia
• India
• Sequoia Capital
• Consumer