Bollywood star Deepika Padukone recently made headlines with the launch of her personal skincare line, debuting the new venture in a stunning yellow gown while proudly displaying her baby bump. At the event, Padukone shared details about her latest entrepreneurial endeavor, marking her significant entry into the business world.
Her direct-to-consumer (D2C) personal care brand, 82°E, is preparing to secure Rs 50 crore (around $6 million) from a combination of new and returning investors. Regulatory documents confirm that shareholders have approved this significant capital raise.
Entrackr has reported that Padukone’s investment firm, Ka Enterprises, which has a history of backing successful startups, will participate in this funding round alongside other investors. The additional funds are expected to support the brand’s growth and expansion plans.
Founded in 2021 by Deepika Padukone and Jigar Shah, the Mumbai-based 82°E offers a wide array of skincare products catering to both men and women. In December 2022, the brand successfully raised $7.5 million in a funding round led by DSG Consumer Partners and Ideo Ventures, with support from Padukone’s firm. According to Tracxn, 82°E reported revenues of Rs 10.4 crore from its operations in FY23, its first full year in business.
This move reflects a broader trend of Indian celebrities launching their own brands, particularly in the beauty and fashion sectors. Other prominent Bollywood figures like Katrina Kaif, Priyanka Chopra, Alia Bhatt, Kriti Sanon, and Anushka Sharma have also ventured into entrepreneurial pursuits, establishing their own brands in the market.