India’s skincare market seems to be the pie that everyone – from the homemaker with little preliminary funding to well-funded startups and international manufacturers – desires a slice of.According to MarketResearch, India’s skincare market was valued at Rs 129.76 billion in 2020 and is predicted to succeed in Rs 191.09 billion by 2025, rising at compound annual development charge (CAGR) of 8.22 p.c between 2021 and 2025. So what can be the finest method to enter the crowded market?Ravina Jain, Founder & CEO, The Skin Story with the product rangeEntrepreneur Ravina Jain noticed one hole to make her approach into the skincare area.”Most merchandise usually are not very efficient and the few clinically-researched merchandise that assist resolve particular issues like pigmentation or pimples are often very costly,” she tells HerStory.In 2019, Ravina determined to begin The Skin Story with a variety of vegan, inexpensive, FDA-approved skincare merchandise.The journeyThe Skin Story just isn’t Ravina’s first brush with entrepreneurship. After finishing a bachelor’s course in commerce from Jadavpur University in Kolkata, she pursued MBA in advertising and marketing from Management Development Institute of Singapore (MDIS).In 2015, she co-founded Streethopper, a vogue equipment brand that turned worthwhile in its third month of operation. After her marriage, she went on to begin a wellness and vitamin brand BodyFirst, alongside along with her husband Pranay Jain in 2018. Ravina has left the ventures, and each manufacturers at the moment are run by her co-founders.With a eager curiosity in the skincare sector, Ravina determined to begin her personal D2C brand The Skin Story and a sister brand, The Beard Story, for males’s grooming merchandise.“Men have gotten increasingly more acutely aware about shopping for private grooming merchandise and the demand is rising. The Beard Story offers us an higher edge as a brand that makes merchandise completely for males,” Ravina says.With about 45 SKUs for The Skin Story at the second, Ravina says her firm gives a variety of cleaning merchandise like shampoo and face wash for day by day use. These are formulated by the in-house R&D crew and priced between Rs 149 to Rs 225.The Skin Story additionally gives an professional care vary with result-oriented merchandise equivalent to pimple and pimples corrector gel, beneath eye gel for darkish circles and puffy eyes, anti-ageing serum, blue mild safety face mist, amongst others, from a beginning worth of Rs 649.The merchandise at the moment are obtainable each offline and on-line on its web site and marketplaces like Amazon, Nykaa, Cred, Pharmeasy, and NedMeds along with its personal web site. The Skin Story was initially began offline and has a presence in about 2,000 shops throughout Punjab, Gujarat, Maharashtra, West Bengal, Goa, Delhi, Noida, and Uttarakhand (offline market contributes to 75 p.c of its gross sales).The brand can also be obtainable in Dubai and Nepal, and is now trying to checklist on Amazon US.
COVID-19 and different challengesCOVID-19 posed a significant problem for a skincare brand that relied closely on the conventional retail technique for development, and Ravina made certain to shortly faucet the ecommerce area.The skincare startup claims to have fulfilled greater than 5 lakh orders thus far.During the peak pandemic 12 months (2020-21), it clocked Rs 1.2 crore in income, which went as much as Rs 4 crore in 2021-22. The entrepreneur says income is constant to choose up at a great tempo. The Skin Story’s complete income in April and May was Rs 55 lakh and Rs 70 lakh, respectively.Ravina says brand constructing – be it by means of the retail market or an internet D2C technique – comes with particular units of challenges. While the final two years have been filled with studying and the entrepreneur hopes to proceed rising her brand’s on-line presence, she maintains that offline retail is the area to be.The founder is now centered on battling the enhance in uncooked materials price as a consequence of the ongoing Russia-Ukraine warfare. Importing uncooked supplies like butter, lotions, important oils, and different substances from France, Italy, the US, Indonesia, Switzerland, Japan and sourcing packaging options from China continues to be a problem, Ravina says.