Joy expects to touch Rs 1,000 crore sales in three years

By

Maverick Martins

Published
May 1, 2023

Personal care brand Joy, owned by RSH Global is targeting an annual sales growth of around 20-25 percent to reach a revenue of Rs 1,000 crore ($122.4 million) over the next three years.

The company has been expanding its omnichannel presence across the country and banking on its entry into new markets coupled with online expansion to achieve its target.

Joy expects to close the current financial year with a turnover of Rs 500 crore and looking to tap new markets to further fuel its growth in India.

In the coming years, the company will focus on West Bengal and Maharashtra markets followed by entry into Bihar and Gujarat.

“The personal care industry in India, which is estimated to be close to Rs 20,000 crore, is growing at 10-12 per cent, while the company has been registering almost double of that growth. With rising affluence and increasing consumer awareness, the demand for such products is expected to go up moving forward,” Sunil Agarwal, chairman of RSH Global told Businessline.

“Maharashtra and West Bengal account for almost 20 per cent of the overall sales of skincare products in the country. Our focus will be on these two States for the next three-to-four years and then we will start looking at Bihar and Gujarat,” Agarwal added.

The Kolkata-based brand Joy has a strong presence in the personal care segment in India. It retails across the country through its strong distribution network, and e-commerce channels.