From Raipur Farms to India's Luxury Beauty Aisle
When Shubhika Jain graduated from Lady Shri Ram College in Delhi and returned to her family's agriculture business in Raipur, she noticed something troubling. Products marketed as "natural" and "Ayurvedic" were often anything but . Having grown up surrounded by the healing properties of botanicals on her family's farms, she knew the difference between genuine natural ingredients and synthetic substitutes marketed with misleading labels .
That gap became the foundation of RAS Luxury Skincare .
Founded in 2017 alongside her mother Sangeeta Jain (Chief Research Officer) and her sister Suramya Jain (Chief Marketing Officer), RAS was built on a "farm-to-face" philosophy . The brand sources botanicals from partner and family-owned farms in Raipur and handles formulation and manufacturing in-house through DSIR-approved labs .
In an exclusive interview with BeautyMatter, Shubhika Jain explained the brand's unique value proposition: "Every product is meticulously crafted with the highest quality ingredients, sourced directly from organic farms. We focus on creating sensorial experiences that deliver real, visible results. Our direct relationships with our farmers and manufacturing give us incredible control over innovation and quality" .
The Numbers That Tell the Story
RAS has demonstrated strong growth momentum with a three-year CAGR of around 75% and an ARR of approximately ₹100 crore, with high gross margins . The brand has served over 5 lakh customers across its D2C website and marketplaces, including Amazon, Nykaa, Flipkart, Tata CliQ, FirstCry, and Tira .
The brand has also expanded into quick commerce, partnering with Blinkit, Zepto, and Swiggy Instamart, and has entered the hospitality segment through partnerships with luxury hotel chains such as The Oberoi Group and Fairmont . In FY24 alone, the company recorded a 136% increase in revenue compared to the previous fiscal year .
The 75% annual growth rate isn't just a metric—it's proof that Indian luxury brands can compete with the world's best .
Building Institutional Confidence
The brand's growth trajectory has attracted significant institutional backing. In January 2025, RAS raised $5 million in a Series A funding round led by Unilever's investment arm, Unilever Ventures, with participation from Amazon Smbhav Venture Fund . This marked the first time both institutional investors came on the brand's cap table .
But the most significant milestone came in March 2026, when RAS raised $7.5 million in a Series B round led by Dabur Ventures, with existing investor Unilever Ventures doubling down . The funding is part of a broader trend where FMCG companies are acquiring stakes in D2C brands to enter high-growth niches faster than building in-house .
Dabur Ventures, launched in October 2025 with a corpus of ₹500 crore, chose RAS as its first investment . Dabur plans to invest approximately ₹60 crore in the brand . Abhinav Dhall, Dabur India's Executive Director – Group Head Corporate Strategy, said: "RAS offers a distinct skincare value proposition at the confluence of nature, science and luxury. We believe that the premium beauty segment will witness strong growth in the coming decade, and RAS is well-positioned to capture the emerging opportunity" .
The multi-generational, women-led founding team was a key factor in attracting these investors. RAS is among India's rare, multigenerational, women-founded luxury brands, and the company's vertical integration—from farm to formulation to retail—gives it a differentiated positioning in the market .
The Omnichannel Playbook: 100 Stores by 2028
In October 2024, RAS opened its flagship store at Nexus Seawoods Mall in Navi Mumbai, marking the beginning of an ambitious retail expansion . The 405-square-foot store offers the full range of RAS products, including bath and body products, skincare-infused makeup, suncare, and booster serums .
The brand has set an ambitious goal: open 100 new stores across India and globally over the next four years . Each store is designed to create a multisensory experience that embodies the essence of luxury, with every element crafted to engage all five senses .
The omnichannel strategy is already showing results. RAS has a presence across D2C platforms, e-commerce marketplaces, quick commerce channels, and now physical retail . The Series B funding will accelerate this expansion across digital and offline retail formats, including exclusive brand outlets, curated retail presence, and deeper partnerships with hotels and restaurants .
The Road Ahead: Global Ambitions
The fresh capital from Dabur Ventures and Unilever Ventures will be deployed across three key areas: accelerating omnichannel presence, deepening R&D capabilities in active botanical science, and investing in brand-building and team expansion . Shubhika Jain explained the long-term vision: "This investment will enable us to accelerate our omnichannel presence, deepen our R&D capabilities, and invest in brand and team building, all in pursuit of our longer-term goal of making RAS a leading name in Indian luxury skincare, at home and globally" .
The goal is clear: make RAS a name that stands for Indian luxury skincare, not just in India but around the world .
The Bottom Line
RAS Luxury Skincare has proven that Indian luxury beauty brands can scale with authenticity. By combining a vertically integrated farm-to-face model with a product portfolio that stands alongside international luxury brands, Shubhika Jain and her family have built a brand that attracts the attention of Unilever and Dabur.
