In India, the cosmetics and personal care industry is one of the fastest-growing consumer product sectors. The skin care products market was valued at Rs 129.76 billion in 2020 and is expected to reach a value of Rs 191.09 billion by 2025, growing at a compound annual growth rate (CAGR) of 8.22 percent during the 2021-2025 period, according to Research and Markets.
With the ease of providing innovative skin solutions, O3+ has gradually secured its position in the professional skincare ecosystem. The brand was launched in 2005 to cater to professional beauty salons, stylists, dermatologists, and cosmetic surgeons. In today’s time, O3+ has captured a decent market share for its products across India making an annual turnover of Rs 150 crore.
“O3+ skincare professional line helps in building salons, clinics, professional brands as well as professional skin therapists. It also aids salons to customize according to their client’s skincare regimen,” Vineet Kapur, Founder, and Managing Director, O3+ said.
Making Brand Accessible
Currently, O3+ is available in pan India with a deeper penetration in Tier I and II cities. The brand has collaborated with salons like Looks Salon, Tress Lounge chain of Chandigarh, and Eye Catchers chain, Kolkata, among others.
O3+ launched its retail division in the middle of COVID. The vision of this division has been to deliver high-end skin solutions to the end customer. “Our annual turnover saw a bigger jump in recent years, in fact, our 25-30 percent revenue generation is garnered from the retail segment, and we vision to soar heights and aim to hit big numbers with General Trade,” Kapur stated.
The brand is presently focusing on expanding its reach and distribution in India.
“A lot more educated and aware consumers have channeled themselves into the beauty sphere and have become more conscious about their choices. Consumers have turned their preferences towards homegrown brands. They are on the look to discover professional skincare solutions over foreign beauty products. Therefore, we have managed to hold a considerable amount of share across all tiers. We are underway to explore new categories, and new markets, invest heavily in R&D, and further strengthen the core management team,” he added.
O3+ has a presence across India, Nepal, and Bangladesh. It will focus on markets like Dubai and Nepal for further global expansion.
What’s on Offer?
The brand caters to more than 20 categories currently. It boasts product ranges right from facial kits to serums, masks, face packs, tonics, bleach, peels, eye care, and hair care range, with a price range starting from Rs 155. The company is focusing on D2C currently with the serum category and high-quality skin boosters.
O3+ has always been a first mover in introducing categories. It launched the first-ever VC serum and Hyaluronic Acid in India back in 2007 when the market was very small and niche. The brand came up with a Rs 1,500 facial kit, which was introduced to beauty parlors and salons. To cater to the mass segment, the brand also introduced an affordable range but the target was to make premium ranges available even in the non-metro cities.
Along with a success in skincare, O3+ has also ventured into high-performance professional haircare by introducing Biozoma, which focuses on hair chronology – designed to naturally repair, regenerate and replenish the hair and scalp from within.
The turnover of the company is expected to cross Rs 160-170 crore this year.
The brand also has plans to extend its roots through offline stores to make it convenient and accessible for Tier II and-III cities. “We do intend to launch our own stores in the later part of 2022,” Kapur asserted.
On the product development side, O3+ will be unveiling “DNA Yoga” - an exquisite skincare range crafted for luxe salons and skin clinics soon. DNA Yoga aims to interweave science and beauty together.
“We have also planned exclusive online product launches for this year. We will also be innovating across hair and hair removal as well and extend our offerings to salons in different categories,” he concluded.
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