Imagine Pte Ltd invests $ 8 million in magnificence and skincare e-commerce startup, OHSOGO

Singapore-based FMCG conglomerate Imagine Pte Ltd has invested $ 8 million in magnificence and skincare e-commerce startup, OHSOGO. The startup was launched in Bangladesh by Zunaid Ahmed Palak, Minister of State for Data and Communication Applied sciences.

“We now have Imagine aboard on this journey with us. Our aim with OHSOGO is to revolutionize the wonder and skincare section of the nation and replace the wonder and skincare market right here. With growing buyer consciousness and modifications of their shopping for habits, the wonder and skincare market has undergone a revolution. The class is hard, however we intention to make issues simpler for the patron, with expertise and innovation, ”mentioned Shobhit Garg, enterprise head, OHSOGO.

OHSOGO claims to cater to a curated assortment of worldwide manufacturers and genuine merchandise. In early Could this 12 months, the corporate had a phased launch in Bangladesh. Aiming to complement the wonder and skincare trade, OHSOGO is poised to create a mark within the burgeoning on-line market that’s anticipated to develop at a 55% CAGR by 2030, the corporate mentioned in an official assertion. “The Bangladeshi market has huge potential for the section and subsequently the entry of OHSOGO will simplify the shopper expertise whereas they may have easy accessibility to high quality manufacturers from around the globe. Bangladesh is a well timed selection for OHSOGO because the IMF has ranked the nation because the second largest financial system in South Asia with a GDP per capita larger than India, “he added.

Considered one of OHSOGO’s traders is Venturi Companions. “The present increase in Bangladesh’s financial system, notably within the magnificence and skincare sector, is a good funding alternative for us. Even with the most recent authorities curiosity in increasing and creating the wonder and skincare market, it is solely a matter of time earlier than the market prospers paving the best way for magnificence and skincare manufacturers to discover the potential. market in Bangladesh, “Rishika Chandan, chief government, mentioned Venturi Companions.

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