Kose Ties Up with Emerging Indian Cosmetics Company; Seeks to Better Serve Local Consumers, Acquire Digital Know-How

The Yomiuri Shimbun

15:20 JST, January 16, 2025

Kose Corp. has announced a new business alliance with Foxtale Consumer Private Ltd., an emerging Indian cosmetics company. The Japanese firm will acquire 10% of Foxtale’s shares, to expand its presence in the growing Indian market.

The amount of investment was not disclosed in the Wednesday announcement. The two companies will establish a joint venture in the future.

Foxtale was founded in Mumbai in 2021 and focuses on skincare products. Its products are mainly sold online and are popular among middle-class consumers, such as a face lotion priced at about ¥1,100.

Kose has been selling its Spawake skincare brand for the Indian market since 2014. Demand for cosmetics is increasing in the Indian market due to its rising population and economic growth. Local manufacturers are also emerging, intensifying competition.

Through this alliance, Kose aims to strengthen its ability to meet local needs in India and acquire knowledge in the digital field, which is one of Foxtale’s strengths.

“This is a big step toward our next 10 years in the Indian market,” Kose President Kazutoshi Kobayashi said Wednesday. “We hope we will be able to show our presence.”