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Published
Nov 29, 2022
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Skincare and beauty brand Recode Studios eyes up to 50% revenue growth in FY23

Published
Nov 29, 2022

Recode Studios is targeting between 45% to 50% revenue growth by the end of the 2023 financial year. The skincare and beauty brand expects its growth trajectory to continue this fiscal after consistent sales growth since 20   18. 

Recode Studios offers a range of skincare and cosmetics products - Recode Studios- Facebook


“The Indian personal care market is estimated to reach $1.23 billion by FY26, which is growing at a CAGR [compound annual growth rate] of 14.69%,” said Recode Studios’ co-founder Dheeraj Bansal, India Retailing reported. “And this opens up a whole new bunch of opportunities which we intend to encash.”
Recode Studios’ revenue target for the 2023 financial year is Rs 30 crore, up from its revenue of Rs 15 crore in the 2022 fiscal. This steep growth prediction follows on from revenue increasing from just Rs 25 lakh in the 2018 fiscal to Rs 2 crore in 2019 and 2020 before reporting Rs 5 crore sales in 2021.  
 
One way Recode Studios plans to continue this growth is by expanding its product offering. By the end of the year, the brand aims to launch new ranges of concealers, foundations, eyeshadow, and highlighter. 

The brand is also focusing on offering interactive experiences to increase customer engagement. On December 18, Recode Studios will hold a makeup masterclass with makeup artist Nitika Jain at its store on West Delhi’s Jail Road, the brand announced on Facebook. 
 

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