mCaffeine parent PEP Technologies will invest INR 30 Cr in Hyphen and will be the majority shareholder
Hyphen has launched three daily skincare products and will be reaching 18,000 pin codes from day 1 via mCaffeine’s logistics network
The launch of Kriti Sanon’s Hyphen comes at a time when an increasing number of celebrities are investing in startups
Bollywood actor Kriti Sanon has joined hands with PEP Technologies, the parent company of mCaffeine, to launch a premium skincare brand – Hyphen.
PEP Technologies will invest INR 30 Cr in Hyphen and will be the majority shareholder, a statement said.
Sanon is joined by Vaishali Gupta, senior growth manager at mCaffeine, along with founding members of PEP Technologies – Tarun Sharma, Saurabh Singhal, Mohit Jain and Vikas Lachhwani.
The brand has launched three daily skincare products. Hyphen will use the existing logistics network of mCaffeine to reach 18,000 pin codes from day 1.
Hyphen claims that its products are vegan, PETA-certified and cruelty-free. The brand claims to maintain a zero-plastic footprint throughout its operations.
The D2C brand is aiming for a revenue of INR 100 Cr in the first 12 months of operations, the statement said.
“We are very excited to unveil our extraordinary brand, Hyphen, to the world. Our journey starts with rigorous research and comprehensive market studies, and the experience that the PEP Technologies team has, enabled us to truly understand the industry and pave the way for Hyphen’s creation,” said Kriti Sanon, cofounder and chief customer officer of Hyphen.
“With PEP technologies firmly established in the industry, their profound knowledge and extensive experience position them as one of the industry’s pioneers. Their proven track record and expertise make them an ideal partner for us as we launch Hyphen and venture into the skincare market,” added Sanon.
Gupta, cofounder and chief growth officer of Hyphen, said, “At PEP Technologies, as we gear up to launch a new brand, Kriti’s idea seamlessly merges with our concept, creating the perfect synergy. This collaboration opens up boundless possibilities, allowing us to cater to a diverse audience and tackle numerous skin challenges head-on.”
Hyphen will compete with the likes of Mamaearth, Nykaa, Plum and Purplle, among others.
The launch of Hyphen comes at a time when an increasing number of celebrities are investing in startups. From sports stars such as Sachin Tendulkar and MS Dhoni to Bollywood celebrities like Amitabh Bachchan and Suniel Shetty, several megastars have identified startups as an asset class and are investing in them.
Recent celeb involvement in India’s startup ecosystem includes Suniel Shetty’s investment in WAAYU and Klassroom Edutech, Parineeti Chopra’s investment in Clensta and Samantha Prabhu’s investment in Nourish You.