MAM
Contract appoints Monojit Ray as Bengaluru head
MUMBAI: The Bengaluru arm of Contract has got a new head. Monojit Ray has been appointed as the general manager and vice president with immediate effect. He will take charge from Anitha Krishnan who was with the company for 10 years.
Ray will handle not just the Bengaluru portfolio but also be responsible for the growth of Contract in south India. “Monojit’s diverse advertising and marketing experience of over 18 years, complimented by his entrepreneurial experience makes him an ideal choice for heading the Bengaluru office,” said Contract Advertising COO Rana Barua.
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Monojit Ray has 18 years of experience in the field
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Prior to this, Ray has worked with Ogilvy, Rediffusion, Radio City, Autocop and Everest. “I think it’s a great opportunity and a challenge to be part of a rejuvenated Contract. The vision that Rana has set for the agency is right up my street. And I sincerely believe that the Bengaluru office will play an extremely important role in achieving that goal. I, for one, am extremely excited to be part of this new journey, and I hope that I will be able to make my team as excited about it as we go along,” said Ray.
Ray had earlier managed Sachin Tendulkar’s first major advertising assignment with Phillips. He was prominent in launching Tata Teleservices in Hyderabad. He is not new to the IT city, having worked there before. He was also the cricket coach and consultant for the movie Kai Po Che.
Brands
Dabur buys minority stake in Ras Beauty for Rs 60 crore
Dabur Ventures deal backs fast-growing luxury skincare brand
MUMBAI: Dabur India Limited has dipped into the world of luxury skincare, signing a definitive agreement to acquire a minority stake in Ras Beauty Private Limited for Rs 60 crore. The investment marks the first bet from Dabur Ventures, the FMCG major’s Rs 500 crore platform set up in October 2025 to back high-potential, new-age direct-to-consumer brands.
Founded in Raipur by Shubhika Jain, her sister Suramya Jain and their mother Sangeeta Jain, Ras Beauty has grown from a family-led passion project into a fast-scaling “Farm-to-Face” skincare label. Its range of face elixirs, serums and moisturisers blends essential oils with nature-derived actives, striking a balance between botanical purity and laboratory precision.
The numbers tell their own story. Ras has clocked a three-year Cagr of around 75 per cent and an annual run rate of approximately Rs 100 crore, all while maintaining strong gross margins. That growth has been fuelled by a digital-first approach, in-house R&D and manufacturing, and a sharp focus on clean, sustainable sourcing.
Dabur India executive director and group head corporate strategy Abhinav Dhall, said the company was drawn to Ras’s distinct positioning at the intersection of nature, science and luxury. He added that the premium beauty segment is poised for robust expansion over the coming decade, and that Ras is well placed to capture that opportunity.
For Ras, the partnership is as much about scale as it is about shared philosophy. Co-founder and CEO Shubhika Jain said Dabur’s 141-year legacy of building trusted, purpose-led brands makes it a natural ally. The capital infusion, she noted, will help accelerate the brand’s omnichannel footprint, deepen research capabilities and invest in team and brand building, with an eye on establishing Ras as a leading Indian luxury skincare name both domestically and overseas.
With this move, Dabur is not just investing in a skincare label. It is placing an early wager on India’s growing appetite for premium, conscious beauty, and signalling that heritage FMCG players are ready to play in the new-age D2C arena.
