Recode Studios, a premium beauty and skincare cosmetic brand instituted in 2018 by Dheeraj Bansal, aims for revenue growth of 45-50 percent by the end of 2022 & 23. The company's revenue stood at Rs 15 crore in FY 21-22. This fiscal year, it targets a revenue of Rs 30 crore, as the industry market, post-pandemic, has been very promising.
Bansal, the Co-Founder and acting Director of Recode Studios, explained that the market has gradually gained traction as the pandemic is approaching its end, releasing the fear of Covid. And it has unleashed the market potential to another level.
The company has consistently portrayed growth with an uphill graph wherein the sales and revenue outdo their last record. Nevertheless, the brand's yearly sales climbed from 25 lakhs in 2018 to 2 crores in 2019 and 2020, which is 8X the growth. The brand registered a growth of 250 percent in 2021 with 5 crores in sales; and a magnificent growth rate of 300 percent with 15 crores in the fiscal years 2021 and 2022.
With its sheer dedication and compassion, Recode Studios intends to achieve 30 crores by the end of 2022 and 2023.
On its new category expansion, the brand is set to launch foundations, concealers, an eyeshadow palette, and a highlighter palette by the end of the year.
With Swara Bhaskar as their brand ambassador, the brand has been instrumental in combining quality with creativity in each product offered to bring about a Universal Studio Arte.
The brand's association with leading cosmetic manufacturers across the globe, especially in Germany and Taiwan, has aided its seasoned cosmetic experts in driving excellence in the beauty and personal care industry with passion and commitment.
As stated by Dheeraj Bansal, Co-Founder of Recode Studios, "The Indian personal care market is estimated to reach $1.23 billion by FY26, which is growing at a CAGR of 14.69 percent. And this opens up a whole new bunch of opportunities which we intend to encash and serve our consumers with quality-driven, safe products for a completely new holistic consumer satisfaction."