An all-organic beauty and personal care brand, Organic Harvest seeks to capture nearly 10% of the organic beauty products market by strengthening its omnichannel presence.
The brand, which is currently present in 25,000 outlets, plans to grow to 100,000 outlets in the next 15 to 18 months.
According to Rahul Agarwal, Founder and CEO of Organic Harvest, there has been an increase in awareness of organic products, especially in the personal care range among consumers following the Covid-19 outbreak. This drives sales both on online and offline platforms.
India’s personal care market is estimated at almost ₹1,15,000 crore and the share of organic products is still at a nascent stage (₹4,500 crore). However, it is expected to more than double to ₹10,000 crore by 2026 at a CAGR of 15%.
Organic Harvest seeks to garner ₹500-1,000 crore from the total natural and organic products market over the next few years.
“The country’s personal care market is expected to grow at a higher rate as there has been a shift in consumer mindset post Covid. Key factors for growth may be increasing awareness, easier access and changing lifestyles,” Agarwal said. Activity area.
Content-to-commerce conglomerate Good Glamm had recently acquired a majority stake in the company for an undisclosed amount. The company has seen three-fold growth in the past few months after the acquisition, he said.
“The business was 95% offline when Good Glamm invested in the business. Today, business has increased by 250% since the investment. Online contributed nearly 40% of the total business,” Agarwal said, adding that “a good portion of the growth would come from Tier II and III cities” for its expansion plans.
Organic Harvest products are currently available in 10 odd countries including UAE, Nepal, USA, UK and Canada, and exports account for almost 15% of its total revenue. The brand plans to venture into Southeast Asian countries and parts of Europe soon.
The brand has a profitable contribution margin since Good Glamm’s investment and achieved EBITDA profitability in the second half of this year, he added.