This Indian Startup Aims to Compete with World Leader Gillette
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Sidharth Oberoi, the CEO and Founder of LetsShave – a grooming products marketplace, is focused on value, technology and pricing for the Indian consumer.
In an interview with Entrepreneur India, Oberoi spoke about how India is a highly value-driven country in the grooming space and how his startup will make a dent in a market dominated by world leader Gillette.
“People in India always want an option. Even though Gillette is doing really well in India, for the past two years we already have 5 lakhs consumers who are buying blades from us on a regular basis,” Oberoi said.
The Ambala-born entrepreneur wants to create his company’s website into a one-point base one solution for grooming for both men and women.
Commonly known as a platform that aggregates quality razors at affordable prices, LetsShave founded in 2015 received Series A investment by Korean razor giant Dorco Ltd last year providing Oberoi to go full scale.
“If we compare us to the new grooming companies, we have products starting as low from INR 20 to INR 300 – 400,” Oberoi said.
He thinks India is a very difficult market and just like any other investor Dorco (provider and manufacturer of technologically advanced and superior quality shaving systems, disposable razors and shaving accessories) is a very cautious investor.
The brand’s approach for the next five years is clear - go offline in the next 2 to 3 years.
“We are catering to the mid-tier and the premium tier, we now want to get to the value tier because for shaving it’s really a big market for us. I think 50 per cent of the whole shaving industry lies in the value tier. From double –edge blades, disposable razors, if we can get to that market I think we will complete our offering and segment.” Oberoi explained.
He thinks online to offline market is the way ahead for any consumer brand.
If you keep doing only one thing, it’s a bigger risk. If you want to reach every consumer in India, one has to focus on both online and offline because there exists no way you can cater to 100 % consumers.