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October 09, 2014

Profile of Vini Cosmetics founder Darshan Patel

From the Mint article:
Patel launched Vini Cosmetics in 2010, having spent two decades at Paras Pharmaceuticals, which he co-owned with his brothers; he had a 24% stake in it. Following differences with his brothers, he sold his stake to private equity firm Actis Capital for $43 million in 2006 and exited the company, which was acquired by Reckitt Benckiser Group Plc. in 2010 for Rs.3,260 crore.

...Patel set up Vini with an initial capital of Rs.70 crore. In the year ended March, Vini clocked sales of Rs.350 crore. “We will be crossing Rs.480 crore by the end of this year—doing in four years what Paras took two decades to do,” said Patel.

...Private equity firms have also been attracted to Vini. Although Patel didn’t need the money, Sequoia pursued him, investing in his ability to create more brands. “We had seen his work in Paras and looking at some of the numbers that Vini achieved in the first year of operation, we decided to invest,” Sequoia’s Pandey said.
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