Pee Safe is stepping up its offline presence and plans to add 50 new stores via the franchise route as it aims to log Rs 100 crore in gross revenue in FY22.
The hygiene and wellness company, which is also looking at raising fresh funding, is looking to expand its presence in the MENA (the Middle East and North Africa) and SEA (South East Asia) regions.
"The revenue generated increased by 80 percent year-on-year. The total revenue would amount to Rs 50 crore (in FY21)... We are targeting Rs 100 crore gross revenue (in FY22), i.e. about 100 percent growth since the previous financial year. About 60 percent of the total revenue will pertain to our online sales," Vikas Bagaria, Founder and CEO, Pee Safe said .
He added that the online channels fetched the organization approximately 60 percent of the total revenue generated in FY2020-21. Pee Safe's products, including its popular toilet seat sanitizer spray, are available pan-India in over 10,000 stores and more than 100 cities.
Apart from eyeing a US$ 10 million series B fundraise, Pee Safe is looking at expanding its retail presence from the current 10,000 stores to having more franchisee-owned brand exclusive stores (FOFO) to enhance the customer experience across India. Pee Safe plans to launch 50 offline stores in the 12 months ahead.
"These stores will be franchisee-owned stores operating as per the standard operating procedures established by the company. At the moment, there are three stores in Ahmedabad, Kolkata, and Bangalore. The new store openings will take place in Gurugram, Indore, Nagpur, Imphal, and other Tier I and Tier-II cities. The new stores being introduced under the FOFO model will not affect traditional retail adversely in any manner. The amount we are looking to raise should substantiate by the end of the year, as per our current roadmap, " Bagaria said.
The company has raised a total of US$ 9.5 million to date. Bagaria noted that while the company had started out with apprehensions, wherein people wondered why it had ventured into products riddled with social stigmas, Pee Safe is now a name to reckon with in the hygiene and wellness category.