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Published
Oct 26, 2022
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Jovees Herbal expects 35% to 40% revenue growth in FY23

Published
Oct 26, 2022

Jovees Herbal expects to see between 35% and 40% revenue growth during the 2023 financial year. The skincare and beauty brand cites favourable market conditions and continued expansion as factors driving growth. 

Jovees Herbal is increasing its focus on natural products - Jovees Herbal- Facebook


Jovees Herbal has a revenue target of Rs 175 crore for the 2023 financial year. The brand expects up to 40% revenue growth as well as around 35% volume growth this fiscal. The brand also expects online sales to continue to rise and contribute around 6% of its total revenue, ET Bureau reported. 
 
“We are gradually moving towards more recyclable and eco-certified environmentally friendly products,” said Jovees Herbal’s CEO Rakhi Ahuja, ET Retail reported. The brand has added a wide array of new products in its natural segment, which it expects to become a top selling category in the coming few years. The brand’s latest launch in the space is a range of natural hair colours. 

Jovees Herbal now has a retail presence in around 30,000 multi-brand stores and plans to continue to expand its distribution network by 50%. For its India-wide distribution, the brand works with a network of 500 distributors, the Economic Times reported. 
 
As well as retailing across India, Jovees Herbal has an international presence in countries ranging from Bangladesh, Sri Lanka, and Malaysia to Qatar and France, where it retails in multi-brand stores. In the near future, the brand plans to expand into new international markets including Dubai, Saudi Arabia, Czech Republic, and the African continent. This expansion is also exoected to drive both revenue and volume growth. 

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