Bombay Shaving Company refreshes logo as it eyes bigger share of offline market
The objective is to transition from a digital-first brand to an offline brand that appeals to a wider consumer base. The new visual identity must look impressive on supermarket shelves and grab the attention of shoppers.
Bombay Shaving Company has unveiled a refreshed new look. The D2C grooming and personal care firm has replaced the razor in its logo with wings, giving it a more slick appearance. Created by advertising agency Animal, the new visual identity now features just the company name against a blue background, with the word "Company" slightly cut from the bottom.
The company explains that unlike most consumer brands, which typically have one or two syllables, their brand name has seven syllables. As a result, the brand identity needs to be compact and concise.
The objective is to transition from a digital-first brand to an offline brand that appeals to a wider consumer base. The new visual identity must look impressive on supermarket shelves and grab the attention of shoppers. The firm has also moved beyond shaving products and has launched personal care, bath&body and fragrances as well.
In an exclusive conversation with Storyboard18, Shantanu Deshpande, the founder and chief executive officer of Bombay Shaving Company, explains that the previous logo, with the razor and wings, had become iconic, but with the growth of the offline segment, the company needed a bolder identity.
"Our old brand identity had a more D2C or e-commerce focus, featuring a razor in the wings and a thinner font, exuding sophistication. However, in the context of offline visibility, it becomes crucial for the brand identity to be prominent on shelves situated at distances of six to twelve feet, ensuring easy recognition by consumers. Consequently, all elements aligned, leading to the launch of our new, bolder identity. Our brand is characterized as a challenger brand, as we actively compete against large incumbents in sizable categories, effectively giving them strong competition. Therefore, the logo was designed to reflect this positioning," he explains.
Founded in 2016, Bombay Shaving Company initiated its offline sales business about four years ago, just prior to the onset of COVID-19. Currently, they have nearly equal distribution between online and offline sales, with a presence in approximately 80,000 stores across various retail formats including Dmart and Reliance Retail.
In 2020, the company’s business was predominantly online, with 90 percent of our operations conducted through online channels, while offline sales accounted for only 10 percent. Deshpande shares that presently, they have achieved a more balanced distribution, with approximately 50 percent of our sales occurring online and the other 50 percent taking place offline.
“Our business expansion encompasses a penetration of nearly 80,000 stores, spanning various types of retail outlets, including modern trade establishments, department stores, medical stores, general trade stores, and small kirana outlets,” he shares.
The significance of our offline presence lies in its ability to offer consumers a tactile experience of our products. Given the importance of fragrance and texture in the grooming category, having a robust offline presence allows prospective customers to directly engage with our offerings and appreciate their characteristics, enhancing the overall purchasing experience. Bombay Shaving Company is also leveraging the offline distribution expertise of its existing investors such as Colgate and Reckitt India.
In terms of consumer trends, Deshpande emphasizes that young consumers are highly conscious of their skin and appearance. They prefer brands that resonate with their values, including being environment-friendly.
The company is also launching a new product range, the Sensi Smart 3 Razor, directly competing with market leaders like Gillette. The product is being promoted through an ad highlighting key features such as its curved shape that hugs the face and the competitively priced aloe vera band lubricating strip, which retails at Rs 99.
In addition to product launches, Bombay Shaving Company is introducing an innovative program called Razorprenuer. This network marketing initiative will leverage their brand's intellectual property, "The Barbershop with Shantanu," as a platform to celebrate and support entrepreneurship. "The Barbershop with Shantanu '' is a podcast where Deshpande interviews entrepreneurs.
The company states that the podcast has amassed more than 1.5 million watch hours and has an engaged audience across Spotify, YouTube, and Instagram. The company has created "Razor's Edge," a fund that invests capital into businesses featured on the podcast. They have already invested in seven or eight companies.
Bombay Shaving Company is inviting people to participate in the "Razorpreneur" campaign by demonstrating their ability to sell razors. The most successful sellers will be featured on "The Barbershop" platform. The company plans to conduct road shows in colleges and organize intercity contests. A panel of razor gurus, including notable figures like Shantanu Khosla (Managing Director of Crompton Greaves Consumer Electricals Ltd), Vani Kola (Kalaari Capital founder), and Sriharsha Majety (Swiggy CEO), will be part of the initiative.
Deshpande will personally promote "Razorpreneur" in 10 to 12 cities, but the contest is open for anyone to participate online.
With its eyes firmly placed on offline expansion, Deshpande told Storyboard18 in an earlier interview that they are closing the year at roughly Rs 190 crore in net revenue, and a run rate of almost Rs 260 crore in net revenue.
"It is a 70 percent growth from our previous year. We are looking to continue the growth momentum in FY24 as well," he adds.
