Sirona eyes Rs 100-cr revenue in FY23, Retail News, ET Retail


Sirona eyes Rs 100-cr revenue in FY23New Delhi: Sirona Hygiene aims to log a revenue of Rs 100 crore in FY23 as it expands its product range and ramps up presence in offline retail channels in the country. The feminine hygiene product company, which is working towards increasing dialogue around feminine health and hygiene – often considered taboo topics – is also looking at raising fresh funding in the coming months.

Speaking with PTI, Sirona co-founder and CEO Deep Bajaj said the company has been witnessing strong growth as its products are innovative in nature and are solving needs that have not been met earlier.

“The growth has been encouraging, we’ve been growing 100 per cent year-on-year and the beauty is that we’ve done this with a very little funding. At the same time, we’ve stayed profitable. So, we are among the few start-ups in the D2C space in our category who have been able to do this while staying profitable,” he said.

The company had registered a Rs 14-crore revenue in FY20, which grew to about Rs 26 crore in FY21.

“This year again, we are looking to double it as well. Next year (FY23), we should be a Rs 100-crore company,” Bajaj said.

Sirona’s product line includes PeeBuddy, feminine pain relief patches, natural coloured pads, oxo degradable sanitary disposal bags, anti-chafing rash cream and menstrual cup kit. It recently launched a period stain remover.

Women’s hygiene issues have traditionally been considered a taboo subject and while awareness has improved significantly over the past many years, there is still a long way to go.

Technology has played an important role in this journey and a number of health-related apps like menstruation trackers, ovulation and pregnancy trackers, are now available. Many start-ups are now increasingly sharpening their focus on “fem-tech” to tap into this nascent market with investors also showing keen interest.

Bajaj said there is a lot of scope in areas like sexual and intimate wellness and “there is a list of products that the company is working on” that will be introduced in the coming months.

He said Sirona is an online-first brand because some of the categories it is present in could be considered taboo topics and the best way to discuss this, is online.

He cited the example of baby diaper rashes that have a lot of creams available for treatment, but it’s not the same when it comes to period rashes.

Bajaj aded that these are important discussions to have and the company wants to play a role in facilitating these dialogues.

Talking about retail expansion, Bajaj said for the next year and a half, online retail would continue to be a major focus for Sirona.

“That said, we are also available in offline retail at leading stores and this year, we are working towards expansion on that channel as well.

“You will see us in Delhi, Mumbai, Bangalore, these metro cities, we think that we should be at about 15,000 points of sale in the next one year,” he added.

Currently, the company has a presence in mostly Delhi-NCR region and its products are present in about 1,500 points of sales.

In April this year, Sirona had announced raising USD 3 million in funding from NB Ventures and IAN Fund – taking its total funding raised to USD 3.5 million.

Bajaj said the company is looking at raising 8-10 million dollars in the next 5-6 months.

“There is interest that we have received and we will be exploring those,” he added.

Asked if the company was exploring international expansion, Bajaj said its products are already selling in the US via e-commerce.

“In the first phase, the focus continues to be on India and Indian customers. We should be on a minimum Rs 100-crore revenue run rate for us to start focusing on the international markets as a dedicated effort, which I think will be early next year.

“We’ve tested markets, we’ve got reasonable interest but we want to ensure that foundation in the country is first taken care of,” he added.





Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

0
    0
    Your Cart
    Your cart is emptyReturn to Shop