Herbal and organic beauty products maker Biotique will invest Rs 450 crore on opening dozens of exclusive stores and brand building to benefit from the rising demand for cosmetics in the country.
Vinita Jain, founder of Biotique, says "herbal is the new phenomenon" in the cosmetics business in India.
"In the current fiscal we are going to expand our presence in the market," Jain said.
Her company plans to invest Rs 450 crore on growing its business, out of which Rs 200 crore will be spent on marketing and setting up its second manufacturing plant.
The company is looking to grow its exclusive outlets from two at present to 40 this year. It will also focus to increasing its online presence.
Biotique plans to set up a new marketing team and engage in mass media advertising. It has formed a partnership with Disney India to bring their characters into its new children's product range.
The company has its presence in six countries and is looking to venture into new territories. Biotique operates an R&D facility in Switzerland.
Biotique is a privately held, internally funded and a zero-debt cash-rich company.
Jain said that the company is not looking for external funding for future expansion plans. Biotique has grown 35 per cent year-on-year, she said.
"My passion is to preserve health and beauty lifetime. The brand mission has always been to personify advanced, bio-energetic, naturally therapeutic treatments to suit every skin type and age," said Jain, who studied biotechnology in Switzerland.
A KPMG wellness sector report forecast that India's beauty and wellness market would nearly double to Rs 80,370 crore by 2017-18 from Rs 41,224 crore in 2012-13.
In the herbal sphere, Biotique faces competition from Baba Ramdev’s Patanjali brand.
After being away from the limelight and publicity for years, herbal beauty companies are making sure they are well represented in India's rapidly growing consumer market.
BW Reporters
The author is Senior Correspondent with BW Businessworld
