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For centuries, women are portrayed as most conscious about their beauty. Women are always serious about their appearance.
Even in this world, a lot of companies are selling millions of products, especially for women. Companies like Nykaa, Purpelle, and Sugar cosmetics.
So, there is a clear picture of the demand for women’s cosmetic brands. Even men are also conscious about their beauty and physical appearance.
But no brands are catering to men in India. So, there is a lot of inefficiency, vacant, and unavailability in the men grooming industry.
Startups will help people when the majority of the people are suffering. In the same way, Beardo company took the men’s grooming industry to the next level in India.
Beardo startup story is interesting and inspiring as well. Two guys from the small town built a multi-million dollar company. Finally, both the founders sold the company and made millions of rupees.
In this blog, one get a relevant answer to questions like
- What is Beardo Company?
- Who are the founders of Beardo Company?
- Is Beardo is Indian Company?
- History of Beardo Company?
Here is a complete analysis of Beardo company history, network, origin, and all.
Beardo is an Indian company that focuses on selling products, especially for men. This is the first startup that took the men’s grooming industry seriously.
In this company, you can find products like
- Beardo hair growth oil
- Beardo trimmer
- Beard oil of Beardo
So, one can find numerous men’s grooming products on the Beardo website.
In India, the men’s grooming industry is one rise exponentially. This market is whopping from 3,200 crores in 2016 to 10,000 crores in 2021.
Beardo company origin is in Ahmedabad. It is a small city in Gujarat. Gujarat is home to a lot of hometown businesses in India. From starting in Ahmedabad, now the Beardo company has brand visibility across the various states.
Initially, the company was started in October 2015.
Beardo company revenue is increasing year on year. As in 2019 it made 48 crores and in 2020 increased up to 78 crores.
Even in the respective years, it made profits from 21 lakhs to 2 crores in 2020.
In 2020, FMCG major Marico acquired Beardo company over the deal of 350 crores. As in 2017, Marico made an acquisition of 45 percent stakes, and then in 2020 made other 55% stakes in the company.
In the next section, you will know about the Beardo company history.
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Beardo Company history
Aspiration will surely lead to a successful journey in one life. So, there should be a strong desire to start new things.
Many people are busy searching for excuses. But only a few people are daring to withstand and build brands. Even Beardo Company’s history is en route to its founder’s passion.
On the one end, Ashutosh Valani comes from the enriched knowledge from top universities. As he completes his master’s in International Business at Brunel University, London.
Then he came to India to start his startup. He is a very enthusiast in startup culture. Even he had a lot of passion for building brands.
Finally, Ashutosh Valani started his e-commerce venture Aajkitem. But it does not reach their expectation. Soon he closed the startup.
Then Ashutosh did not lose hope. Instead, he started to research various fields to find a niche. So, in this process, Ashutosh met his friend Priyank Shah.
After discussing the research, then both of them became serious in finding the best business idea. Finally, they got to know about the pathetic situation in the men’s grooming industry.
Where only fewer brands were catering to men. Even though there is a lot of demand and scope in the market.
Both were in shock when they got to know about the men’s grooming industry valuing over 2000 crores.
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Then both Ashutosh Valani and Priyank Shah build the startup Beardo. Both were already had lots of experience in listing the products in e-commerce.
So, it was a bit easy for them due to their immense experience. Even Priyank Saha also completed his MBA in Ahmedabad and had 4 years of experience in logistics.
Subsequently, they made up their business model to cater to the market.
As they started completely new range and category of products. It was difficult for them to get funding from the VCs. Because they did not get kind of relevant data for their products.
So, over 15 Venture Capitalists were rejects their business due to the lack of data.
Then both the founders came to know the importance of the data. These were some of the hard times the company and founders came across.
Beardo Business model: Beardo Company history
After getting the idea to start up the business. Both were conscious about choosing the business model.
They did a lot of research and analyze the trend carefully. As they knew that they can’t compete with big companies like Amazon and Flipkart by following Market place model.
Where all the sellers can sell products on large platforms. Finally, sellers have to give commission to the platforms such as Amazon or Flipkart.
As Ashutosh and Priyank knew that they are stepping into new products. So, it was essential to start their own manufacturing units. So, Beardo follows the D2C business model.
Beardo company D2C business model made the company successful. Because it portraits the unique products, identity, and branding of the company.
Starting their business in Ahmedabad made them spend on the worker’s costs. Initially, Beardo company started with only 4 people.
Even they did incorporate any of their party agency for marketing and branding. Because they had the fear stealing of the idea from others.
So, both Beardo founders Ashutosh and Priyank try to follow a close streamline.
In this way, Beardo startup story went on to become a good example to many entrepreneurs. Beardo company history and founder’s aspiration are exceptional.
Ashutosh Valani and Priyank Shah Beardo company founders build the million-dollar company.