PEP Technologies, the parent company of mCaffeine partner with popular Bollywood actor Kriti Sanon , to launch a premium skincare brand named Hyphen. As per a statement, PEP Technologies will invest INR 30 Cr in Hyphen and will hold the majority stake in the venture.
Founding Members and Ethical Practices of Hyphen
Vaishali Gupta, senior growth manager at mCaffeine, joins Kriti Sanon in the skincare venture. Founding members of PEP Technologies – Tarun Sharma, Saurabh Singhal, Mohit Jain, and Vikas Lachhwani are also part of the venture. The brand has launched three daily skincare products. It aims to leverage mCaffeine’s logistics network to reach 18,000 pin codes from the start.
Emphasis on Vegan and Environment-Friendly Products
Hyphen positions itself as a brand that is committed to ethical and sustainable practices. The products are claimed to be vegan, PETA-certified, and cruelty-free. The brand takes pride in maintaining a zero-plastic footprint across its operations.
Ambitious Revenue Target for the First Year
Hyphen, a direct-to-consumer (D2C) brand, has announced ambitious revenue targets. The brand aims to achieve INR 100 Cr in the first 12 months of operations, according to their statement.
Kriti Sanon and PEP Technologies on the Collaboration
Kriti Sanon, co-founder and chief customer officer of Hyphen, expressed excitement about unveiling the brand to the world. She credited PEP Technologies’ profound knowledge and experience in the industry. Which helped in understanding the market and laying the foundation for Hyphen.
Vaishali Gupta, co-founder and chief growth officer of Hyphen, mentioned that collaborating with Kriti Sanon’s idea creates the perfect synergy with PEP Technologies’ concept. This allows the brand to cater to a diverse audience and address various skincare challenges.
Hyphen expects to face competition from established skincare brands such as Mamaearth, Nykaa, Plum, and Purplle, among others.
Celebrities are increasingly investing in startups, and the launch of Hyphen is a part of this growing trend. Sachin Tendulkar, MS Dhoni, Amitabh Bachchan, and Suniel Shetty, among others, are well-known figures who see startups as a promising asset class and are actively investing in the startup ecosystem. In India, there are recent examples of celebrity involvement in startups, such as Suniel Shetty investing in WAAYU and Klassroom Edutech, Parineeti Chopra investing in Clensta, and Samantha Prabhu investing in Nourish You.
Also Read The Latest News:
India AI and Meta sign MoU for collaboration in AI and emerging technologies
