Kriti Sanon, the renowned Bollywood actor, has partnered with PEP Technologies, the parent company of mCaffeine, to introduce an exclusive skincare brand called “Hyphen.”
According to a statement, PEP Technologies is set to invest INR 30 Cr in Hyphen and will become the majority shareholder of the brand.
Sanon is accompanied by Vaishali Gupta, the senior growth manager at mCaffeine, as well as the founding members of PEP Technologies – Tarun Sharma, Saurabh Singhal, Mohit Jain, and Vikas Lachhwani.
The brand has introduced three daily skincare products. Hyphen will utilize mCaffeine’s existing logistics network to reach 18,000 pin codes right from the first day of launch.
Hyphen asserts that its products are vegan, PETA-certified, and cruelty-free. Additionally, the brand upholds a commitment to maintaining a zero-plastic footprint throughout all its operations.
According to the statement, the D2C brand is targeting a revenue of INR 100 Crores in the initial 12 months of its operations.
Kriti Sanon, Co-Founder and Chief Customer Officer of Hyphen, 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.”
“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, Co-Founder 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 enter the competition against popular brands such as Mamaearth, Nykaa, Plum, Purplle, and various others.
The debut of Hyphen occurs amidst a rising trend of celebrities investing in startups. Notable figures ranging from sports stars like Sachin Tendulkar and MS Dhoni to Bollywood celebrities like Amitabh Bachchan and Suniel Shetty, are recognizing startups as a valuable asset class and actively engaging in investments within this sector.
In India’s current startup ecosystem, celebrity participation is evident with recent instances such as Suniel Shetty’s investments in WAAYU and Klassroom Edutech, Parineeti Chopra’s investment in Clensta, and Samantha Prabhu’s investment in Nourish You.