Organic India to enter skincare, beauty segment in 2018

Fabindia-owned Organic India will be entering the lucrative skincare, beauty segment by launching products in select cities at the start of the next financial year.
 
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Organic India, founded in 2018, currently sells products such as tulsi tea, ghee, chyawanprash, coconut oil and natural sweetener Stevia, but is now looking to diversify its business with the support of its strategic partner and majority stakeholder, Fabindia.
 
Fabindia has already started giving the brand a push by promoting Organic India at its new experience centres, via a brand-dedicated space.
 
Organic India has set a target of Rs 500 crore (approx $78 million) by 2020 as it expects a good response from consumers to its new product offerings. The company had posted revenue of Rs 350 crore in the fiscal 2016-17. Fabindia company, on the other hand, has also reported strong results for the last fiscal with a revenue of Rs 1037 crore (approx $160.8 million) and profit of 97 crore (approx $15 million).

"We plan to launch a pilot with select organic skincare and bodycare products in select cities in the next fiscal. Demand for organic products has been growing. As we enter into new product categories...our growth will only increase," Organic India MD, CEO Abhinandan Dhoke was quoted as saying by PTI.
 
"We are looking at a turnover of over Rs 500 crore by end of fiscal 2020. We have registered compounded annual growth rate of more than 20 per cent for the last 5 years,” said Dhoke.

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