MUUCHSTAC: How a One Product Startup From Bhayander Became a Rs 450 Crore Story

Indian FMCG has seen many bold experiments, but few are as surprising as the rise of Muuchstac. While most grooming brands chase large catalogues and constant releases, this small venture from Bhayander built its success around a single face wash. What began as a modest idea in 2017 has now grown into an Rs 80 crore revenue company, culminating in a Rs 450 crore acquisition by Godrej Consumer Products.

The journey started with two founders who carried very different strengths. Vishal Lohia brought a strong grasp of finance from his time at Deloitte, while Ronak Bagadia grew up in a business environment and understood how to run daily operations. Both had grown up in Bhayander and had witnessed the struggles young men faced in finding reliable grooming products. They believed that one well-made product could succeed if it stayed honest and solved a clear problem.

They launched Muuchstac with just Rs 3 lakh from their savings and kept everything deliberately simple. No large offices, no rush to raise capital and no pressure to scale at any cost. For several years, the company operated quietly at around Rs 10 crore in annual revenue while the founders continued refining their product. Instead of spending heavily on advertising, they collaborated with micro influencers who created practical, relatable content that resonated with buyers.

The face wash gradually gained traction online and soon began to appear in offline stores as well. By 2023, the brand had established a reputation for reliability, and by early 2025, revenue had reached nearly Rs 80 crore, accompanied by strong profitability. Almost all of this came from one product line, and the lean model allowed Muuchstac to maintain a healthy EBITDA of around Rs 30 crore.

This kind of discipline is rare in consumer startups, and it caught the attention of the industry. For Godrej Consumer Products, Muuchstac represented a focused and highly efficient business that had built trust without chasing trends. The brand will continue to be led by its founders within the larger Godrej ecosystem, providing it with the backing and distribution strength necessary for its next chapter.

Muuchstac’s story is a reminder that focused execution often creates deeper value than rapid expansion. Sometimes one great product is enough to build something remarkable.