Sick of unexciting razors and uncomfortable skin? You’re not alone. In the same vein, Shantanu, who had conceived the idea of going big with BSC, felt the same pinch. But instead of moaning about it, he turned it into a business opportunity and became highly paid because of it. For Bombay shaving company it was not just another brand it was revolution on the way. Bombay shaving company a premium men’s grooming brand is one the india top 10 most loved brand.
Startup Story
Bombay Shaving Company (BSC) was initiated in the year 2016 by Shantanu Deshpande, it changed the Indian men grooming segment by launching premium products. Founded as the provider of some shaving products, BSC added the grooming, face and body care, and hair products in its assortment in the year 2017. The brand developed a deep emotional bond with the customers by 2018 and received investment from Colgate-Palmolive to make the firm transformation into an omni-channel retailer.
However, due to the effects of COVID19, which forced consumers to alter the way they groom themselves had drastic changes, BSC was able to come up with do it yourself grooming products. In 2023, the company continued with the expansion of partnerships through joining deals with Reckitt Benckiser and Lakmé Salon. BSC also venturing into new markets through entering new product line called ‘Bombae’, women’s shaving products and offering endorsement with celebrities such as R. Ashwin and Alaya F.
A Clean Shave for the Modern Man
The Indian market in the shaving category was a war zone crowded mostly with products that boasted of a low-end appeal. BSC saw an untapped goldmine: the modern man who is in search of a luxurious shave. It replaced everyday shaving with prestige products, grooming, and innovative aesthetically pleasing packaging.
Building a Grooming Empire
It was not the end for BSC that just practiced product excellence. They know the importance of group. Thus, following best practices of content marketing and social promotion, indeed paid partnerships with various influencers, they built a strong community of grooming aficionados. They took word-of-mouth marketing as their biggest advantage.
Financials
Currently, Bombay Shaving Company is “on track” to see topline of Rs 260-280 crore in FY24, where its big bet is on razors and trimmers, expanding its focus business of hair removal products and expanding its distribution network to capture a greater share of the booming men’s grooming market, said Shantanu Deshpande, the company’s Founder & CEO.
Speaking to PTI, Deshpande dwells on breakeven in the current fiscal, a $60-80 million pre-listing round in 3-4 quarters, and vision to take BSC to a $200-300 million business and Bombae women grooming products line up to $100 million business in the medium term. The brand, which was recently rebranded to look all new, also plans to expand its reach beyond existing 65,000 stores to 3-5 lakh stores in 2-3 years, Deshpande said while terming offline mode as the ‘body of Indian retail market’.
In the FY23, the reported revenue receipt for the company was Rs 186 crore. To this, Deshpande said, Bombay Shaving Company is optimistic of getting to a breakeven by the end of the next fiscal year. The top line for FY24 is expected to range between Rs 260-280 crore, he said, adding that the company is so far is ‘on track’ to achieve it.
Customer Experience: The Razor’s Edge
The management at BSC had an understanding that the fact that you are dealing with a great product is not enough. They cared about customers in a way that was now unrealistic. Continuity from shopping on-line to amazing unboxing simply carried forward the possibilities of the touch-point as a moment of joy. Their approach was always scalable– metrics, A/B testing, and other methods meant they always had to be getting better.
Innovation: The Fuel for Growth
Relaxing on past successes was not in BSC’s system. It challenged its competitors by constantly changing its products, services and coming up with new product lines to suit the clients’ needs. Subscription boxes and personalized kits were another level to the customer love.
Key Takeaways From This CaseStudy
1. Identify a Gap, Own It: Select a virtually unresolved issue and develop a premium solution for it.
2. Your Weapon Is Your Content: Create a good story around the brand.
3. Customer is everything: Deliver every interaction as a memorable experience.
4. Innovation is the Oxygen: “Ideas run out,” it is for this reason that one needs to be informed as well as updated with the latest strategies.
And this is where the BSC succeeded not in developing just a successful brand, but a grooming empire. It is the story that any start-up organisation wants to give to the world in case it wants to capture a specific market. Thus, following the examples of these two companies, you will need just a few steps to turn your business idea into a dominant player in its market.
Conclusion:
In the history of mankind’s time duration we have seen Bombay Shaving Company has cognised shaving a movement that was rather a drudgery. Through customer focus, innovation and strategic marketing, BSC has developed a grooming empire. They even provide the perfect startup guideline: identify a need, develop a high-end product, and deliver value.
