Saina Nehwal, the ace shuttler has invested in Paree, a reasonable sanitary napkin brand that is manufactured by Soothe Healthcare based in Noida. The amount of investment remains undisclosed right now. Nehwal has been Paree’s brand ambassador since the last year. She comes as a strategic investor holding a minor stake in the company after it raised funds from Anil Gupta, its advisor and the former president of Reliance Infrastructure in October.
Saina Nehwal stated that being a girl and with the experience of playing for many years, she has faced many tough situations. She stated that she believes in Paree and likes to support the manufacturer as it is very important for girls wherever they go be it going to school or playing a sport.
She further stated that more than an investment, it is about giving her support for a good cause. Saina Nehwal made it clear that she will be glad to support many other causes.
The Managing Director of Soothe Healthcare, Sahil Dharia stated that the company is looking forward to raise a fund of Rs 5 crore before it enters the market for a Series-A funding. Eventually, this will be the second funding that has become a part of its aim.
Soothe Healthcare will make use of this money to augment its retail presence across the different channels, increase sales force, enter new markets, and branding activities. It is in plans to come up with a television commercial in the next year as well. He stated that they aim to make Paree sanitary napkins a household brand and so they are looking to pick up the strategic investors as they bring more money.
Paree targets girls living in the households that fall in the Rs 1.5 lakh to Rs 5 lakh income bracket. It is available at around 3,000 retail points in states such as Maharashtra and Kerala.