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Personal care brand Joy targets ₹750 crore revenue, expands distribution

Thehindubusinessline

Thehindubusinessline · 1y ago

Personal Care brand Joy, owned by RSH Global, aims to achieve a revenue of ₹750 crore in FY2025. The company plans to expand its distribution network and increase its reach to 500,000 outlets in the next three years. Additionally, Joy is investing ₹80 crore in a new manufacturing facility, expected to be functional by August, which will enhance its overall capacity. The company is also focusing on growing its online sales, aiming for a 20% contribution to overall revenue in the next three years. Furthermore, Joy is exploring expansion into new international markets such as the Philippines, Vietnam, and the United States.

Related News

D2C beauty brand Pilgrim raises 200 crore in a mix of primary, secondary funding

Economic Times

Economic Times · 4m ago

Pilgrim, a D2C beauty and personal care brand, secured Rs 200 crore in funding led by the Narotam Sekhsaria Family Office. With contributions from Vertex Ventures, Sattva Family Office, and others, this round positions Pilgrim at a Rs 3,000 crore valuation. Pilgrim aims to expand offline distribution, boost R&D, and enhance its omnichannel presence, targeting a Rs 1,000 crore revenue run rate by 2025. It competes with brands like Mamaearth and Wow Skin Science.

Wow Skin Science's financial report card in FY23

Entrackr

Entrackr · 1y ago

Wow Skin Science's financial report card in FY23

Wow Skin Sciences, an omnichannel beauty and personal care brand, experienced a 24.1% decline in operational income in FY23, along with widening losses. The company's revenue is primarily driven by offline sales, constituting 25% of its total scale. The cost of advertisement and promotion accounted for 41% of the overall expenditure, which remained flat at Rs 199 crore. Wow Skin Sciences' losses increased by 56.6% to Rs 213 crore in FY23. However, the company plans to enter the US market directly and targets to reach Rs 1,000 crore in revenue by FY26.

D2C brand mCaffeine’s loss widens 61% to INR 92 Cr in FY23, sales at INR 205 Cr

Inc42 · 1y ago

mCaffeine, a direct-to-consumer (D2C) beauty and personal care brand, reported a 61.5% increase in its standalone net loss for FY23, reaching INR 91.6 crore. The higher losses were attributed to increased employee costs and advertising expenses. However, the company's sales revenue grew by 51.8% to INR 205.2 crore during the same period. mCaffeine, known for its caffeine-infused skincare products, raised $31 million in Series C funding earlier in the year to fuel its R&D and expand its distribution network.

Beauty brand Plum's FY23 revenue rises 71% to Rs 322 crore

Economic Times

Economic Times · 1y ago

Direct-to-consumer beauty brand Plum reported a 71.3% increase in total revenue for FY23, reaching Rs 322 crore. However, the company's net loss also widened by 66% to Rs 52 crore. Total expenses rose to Rs 375 crore, with advertising and promotions accounting for 42% of the costs. The growth in Plum's revenue reflects a similar trend in the D2C beauty and personal care sector, driven by increased demand for such products. India's beauty and personal care market is projected to reach $30 billion by 2027.

Pilgrim's FY23 revenues soar with four-fold jump

Economic Times

Economic Times · 1y ago

Pilgrim's FY23 revenues soar with four-fold jump

Direct-to-consumer personal care brand Pilgrim saw its operating revenue for FY22-23 increase by over four times to Rs 76.46 crore, while its net loss more than tripled to Rs 23.06 crore. The Mumbai-based company's marketing expenses accounted for 68% of its operating revenue in FY23, reaching Rs 52.50 crore. Pilgrim competes with established players like Mamaearth and Purplle, among others, in the beauty and personal care market. In September, Pilgrim raised $20 million in a funding round and aims to achieve an annualized revenue run rate of Rs 1,000 crore by 2025.

Honasa Consumer slips into Rs 19 crore loss on restructuring; operating revenue takes a hit too

Economic Times

Economic Times · 8m ago

Honasa Consumer slips into Rs 19 crore loss on restructuring; operating revenue takes a hit too

Beauty and personal care brand Mamaearth's parent company, Honasa Consumer, faced a decline in operating revenue and slipped into losses during the September quarter. The decline was due to the impact of offline distribution restructuring, leading to a net loss of Rs 19 crore. The company had expected a Rs 50-crore inventory impact, but it turned out to be Rs 70 crore. Honasa Consumer is transitioning its general trade strategy to increase offline sales. Mamaearth's performance also contributed to the lower-than-expected growth. The company owns several other brands and plans to make necessary adjustments for better results.

Antithesis raises Rs 5 Cr in pre-seed round co-led by Rukam and V3 Ventures

Entrackr

Entrackr · 4m ago

Antithesis raises Rs 5 Cr in pre-seed round co-led by Rukam and V3 Ventures

Antithesis, a beauty and personal care brand, has raised Rs 5 crore (around $582K) in its pre-seed round co-led by Rukam Capital and V3 Ventures. The proceeds will be used in growth plans as a digital-first beauty company, product innovation, and market and distribution channel expansion while also strengthening its brand presence in the personal care market. Founded by Aparna Saxena, Antithesis treats beauty and personal care products like technology products, allowing for continuous innovation and feature expansion based on consumer feedback and emerging trends. Rukam Capital, with a track record of backing high-growth consumer brands, has previously invested in brands like Beco, Sleepy Owl, Yoho, GO Desi, upliance.ai, and Indus Valley, amongst others. V3 Ventures is a founder-led early-stage fund backed by the Verlinvest group that invests in disruptive consumer companies across the globe, including Kuku FM, Go Zero, Dil Foods, Ugaoo, and Deconstruct.

Anveya Living Is Making Waves With Beauty Fix For Curly Hair, Damage-Free Hair Colours

Inc42 · 1y ago

Anveya Living Is Making Waves With Beauty Fix For Curly Hair, Damage-Free Hair Colours

Anveya Living, a beauty and personal care brand, aims to fill the gap in the Indian market by offering high-quality hair and skin care products that match or exceed international brands. The company has launched three product lines: ThriveCo to address hair, skin, and body care issues; Colorisma for temporary and semi-permanent fashionable hair colors; and Curlvana for curly hair care. Anveya's products are chemical-free, vegan, and made from natural materials. The brand plans to expand its product range, increase offline distribution, and invest in R&D in the coming years.

Reliance Retail-Owned Tira Expands Beauty Offerings With Nails Our Way Roll Out

Inc42 · 1y ago

Reliance Retail-Owned Tira Expands Beauty Offerings With Nails Our Way Roll Out

Tira Beauty, owned by Reliance Retail, has expanded its beauty offerings with a new private label brand called Nails Our Way. The brand features a range of premium nail colour and care products designed to encourage self-expression and creativity. The collection includes nail enamels in various shades, essential nail care products, nail enamel removers, and complete manicure kits. Launched in April 2023, Tira Beauty is an omnichannel beauty retail platform that competes with players like Nykaa, Tata Cliq Palette, and Sephora in the Indian market. The beauty and personal care industry in India is attracting significant investment and is projected to reach $38 billion by 2028.

Pilgrim raises $20 million in funding round led by Vertex Ventures

Economic Times

Economic Times · 1y ago

Pilgrim raises $20 million in funding round led by Vertex Ventures

Direct-to-consumer personal care brand Pilgrim has raised $20 million in its latest funding round, with Vertex Ventures Southeast Asia and India leading the investment. The funds will be used for research and development, brand-building, and expanding offline presence. Pilgrim plans to open five exclusive outlets and aims to achieve an annual revenue run rate of Rs 1,000 crore by 2025. The company has seen significant growth in the past year and hopes to add more SKUs during the festive season. The beauty and personal care market in India is projected to reach $30 billion by 2027.

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