Mcaffeine eyes revenue of Rs 100 crore by 2020, plans to enter international markets
today Oct 22, 2019
Personal care brand Mcaffeine is planning to tap new markets for growth as it eyes revenue of Rs 100 crore ($14.1 million) over the next one year.
The company is also planning to widen its reach across India and acquire new customers to achieve its sales targets.
Apart from domestic expansion, Mcaffeine is also looking to explore global markets and will be expanding its product portfolio with the addition of over 20 new products to cater to a wider target group.
“Mcaffeine is not only popular in metros but tier 2 cities as well and has so far covered 18,000 pin codes. In the next 3 years, we want to explore more geographies and capture the global market,” Tarun Sharma, co-founder of mCaffeine told Moneycontrol.
"Caffeine is a global concept and hence international markets are a great opportunity for a brand like Mcaffeine. We believe that now the time is right that we build home-grown brands and go out in the global markets to win a share in those markets," Sharma added.
To fuel its expansion plans, Mcaffeine had raised $2 million (Rs 14 crore) from a host of investors in June this year. It currently has close to 10 products in its portfolio and plans to achieve a topline of Rs 70 crore by December 2019.
The brand sells its products through its e-commerce portal and other beauty platforms like Amazon, Nykaa, and Flipkart.
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