Backed by Playbook and Midas, the homegrown beauty brand aims to double ARR to Rs 1,000 crore and deepen offline presence across India
Renee Cosmetics, one of India’s fastest-growing beauty brands, has raised USD 30 million in a new funding round, valuing the company at USD 200 million. The round was led by Playbook, with participation from Midas through a combination of primary and secondary investments.
The brand, which has tripled its growth over the past 18 months, attributes its sharp upward trajectory to strong consumer adoption, innovation-led product development, and an aggressive omnichannel expansion strategy. Renee now boasts a growing portfolio of over 200 SKUs spanning beauty and fragrance, with products that champion innovation, inclusivity, and affordability.
With the fresh capital, Renee plans to widen its product range, invest in technology, and build a robust omnichannel presence, particularly in Tier 1 and Tier 2 cities. The company also aims to strengthen brand-building efforts and deliver an enhanced customer experience both online and offline.
“We are happy to partner with Playbook for our new funding round and to be backed by Evolvence India and Edelweiss,” said Ashutosh Valani, Co-founder, Renee Cosmetics. “This capital gives us the firepower to scale our marketing engine, optimise consumer acquisition costs, and drive better conversion across both D2C and marketplace platforms. With an annual revenue run rate (ARR) of Rs 500 crore, we’re confident of doubling this to Rs 1,000 crore in the next two years.”
Aashka Goradia Goble, Co-founder and CMO, added, “Renee was founded with a vision to merge ethics with innovation. As someone deeply involved in product development, I see this funding as a way to accelerate R&D and launch cutting-edge formats that reflect global beauty trends while staying relevant to our consumers.”
Highlighting the brand’s retail ambitions, Priyank Shah, Co-founder, noted, “One of the biggest gaps we identified early on was the lack of depth in offline execution among new-age beauty brands. This round will help us scale our distribution engine, strengthen our on-ground presence, and create a consistent brand experience across locations.”
Investors echoed confidence in Renee’s positioning and future growth. Vikas Choudhary, Founding and Managing Partner, Playbook, said: “India is entering its next wave of beauty consumption, driven by a digitally native generation seeking authenticity and innovation. Renee is leading that charge, especially in Tier 2+ markets. We’re excited to bring our operating insights to support this incredible growth story.”
Abhishek Chandra, Partner at Evolvence Equity Partners, added, “We’ve supported Renee since its formative years. This fundraise is a major milestone in its next chapter, and we remain convinced of its long-term potential.”
Currently present in over 15,000 retail outlets and across major e-commerce platforms like Amazon, Nykaa, Flipkart, and Myntra, Renee sees 10X growth potential in offline retail. The brand has also begun its global foray with beta presence in markets such as the US, UAE, and Australia.
