Divine Organics to enter newer markets, eyes Rs 100 crore revenue by 2020
Indian organic beauty care brand Divine Organics is planning to enter newer markets for growth next year and has set a target of Rs 100 crore (approx $15.6 million) in revenue over the next three years, said a top company official.
Divine Organics has recently launched in India with product offerings in skin, body, and hair care. The company will roll out its product range in multi-brand stores across the country during the last quarter of the current fiscal (January to March).
Along with India expansion that will be mainly done in metros, tier I and tier II cities, the brand is also eyeing the profitable Indian sub-continent markets for growth. To support its expansion plans the company is also in talks with investors and expecting to raise around Rs 10 crore (approx $1.6 million) next year.
"We are looking at a turnover of Rs 80-100 crore from our operations in India and overseas. By early next fiscal, we will enter markets in Indian sub-continent like Sri Lanka, South-East Asia and the Middle-East," Divine Organics CEO Gautam Dhar told news agency PTI.
"We want to give consumers a 100 per cent organic product option at a competitive price range. We plan to focus on metro and mini metro cities in India. The company will also look at raising about Rs 10 crore from private equity or venture capital investors to support its expansion plans," he added.
Divine Organics products are currently available through a network of 400 outlets across the country and priced between Rs 300 to Rs 1500 (approx $5 to $25).
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