Venture capital firm Sequoia Capital India will acquire Faces Cosmetics Canada, an Ontario, Canada-based color cosmetics brand, as well as the Faces brand from Indivision India Partners. Faces has a product portfolio of over 350 color cosmetics and skin care products in India.
“The color cosmetics market is the fastest growing category in personal care and we see a huge opportunity for the Faces brand. The Sequoia team will work with the Faces management to make significant investments and deploy operational expertise to unlock the brand’s full potential, as well as expand its portfolio and reach,” said Abhay Pandey, managing director, Sequoia Capital India Advisors.
Live Mint reports that Sequoia India is an active investor in the Indian consumer space. Last year it invested in beer brand Bira 91, in Hector Beverages Pvt Ltd, which manufactures soft drinks and beverages under the Paper Boat brand, and in Ahmedabad-based Vini Cosmetics Pvt. Ltd, the maker of Fogg deodorants.
