Ayurveda beauty brand Vedix expands men care portfolio
The ayurvedic firm has launched skincare routine products that includes face wash, moisturizer and an overnight serum. “Most men have a non existing skin care routine. There is a demand in the customer segment for a customised daily skincare as legacy brands have remained restricted when addressing the men’s beauty segment,” said Jatin Gujrati, business head — Vedix, adding that they already have a line of customised products for men which has seen the highest growth over the past three years.
Founded in 2017 as part of Incnut group, Vedix has raised series A funding of $4 million from RPSG ventures. With an annual revenue run rate of Rs160 crore it is adding close to one lakh new customers every month. Vedix, which sells products on marketplaces such as Amazon, Flipkart, Purplle, competes with the likes of Dabur, Patanjali and more recently
in the natural space.
For long, legacy brands have not grown the category beyond men’s fairness cream. As per a report by research and markets, Indian male grooming market is projected to cross $1.2 billion by 2024. While companies including Colgate, Marico, Emami and Unilever Ventures invested in D2C brands such as Bombay Shaving Company, Beardo and The Man Company, experts feel niche brands could pose an issue for larger companies going forward, especially in categories driven by millennials.
Also, sales of naturals products across personal care categories have grown at nearly twice the rate of regular consumables during the year ended June, as the spread of Covid-19 led to an increased consumer interest, awareness and demand for ayurvedic brands, according to Kantar.