Personal care and beauty brand Pilgrim eyes Rs 50 crore revenue in FY22
Natural beauty and personal care brand Pilgrim expects to reach a revenue total of Rs 50 crore ($7.5 million) in the current financial year which concludes in March, 2022.
Pilgrim expects to see between Rs 4 crore to Rs 5 crore gross sales in the final quarter of the 2022 financial year from January to March 2022, ET Bureau reported. This would bring the business’ revenue total to Rs 50 crore at the end of the current financial year after seeing demand for clean beauty products boom.
“The rise in global demand for clean beauty and skincare products has been phenomenal,” said Pilgrim’s co-founder and CEO Anurag Kedia in a press statement, ET Bureau reported.
“Indian consumers have also shown a growing appetite for clean and non-toxic offerings. We have also seen an increasing demand for vegan and animal cruelty-free products.”
The brand is focusing on expanding offline across the country. After seeing its Korean inspired beauty range drive 75% of sales in the 2021 financial year, it is expected to continue to drive growth this fiscal.
“The clean beauty in India wave has also contributed to our consumer base which has tripled in comparison to last year and now stands at 60-70,000 active consumers,” said Kedia.
Pilgrim raised around Rs 13 crore in its recent Series-A funding round, which was led by Fireside Ventures and Rukam Capital as well as a number of angel investors. The brand also plans to close a Series B funding round by the end of 2022.
Copyright © 2022 FashionNetwork.com All rights reserved.