Skin Care brand O3+ plans to reach annual revenue of Rs 300 crore in the current fiscal year and aims to grow over 20 percent by 2023-24. The brand aims to generate more revenue with a modified business model and its expansion in the D2C segment reaching out to its clientele in Tier II and III cities.
Since its inception in 2004, the brand has grown in the beauty and personal care space. Capturing a major market share for its products O3+ is moving towards an annual turnover of Rs 300 crore.
“Entering into retail accelerated our growth, given the shift towards high quality and trusted wellness products, and larger presence of e-commerce globally, we have been able to capture the majority of beauty and personal care market. We analyzed and scaled the numbers of our annual sales post our expansion in D2C platform covering majorly all regions across the country,” said Vineet Kapur, Founder and MD, O3+.
With a strong consumer base and focused business strategies, the brand's annual turnover saw a bigger jump in recent years, with its 25 -30 percent revenue generated from the retail segment. O3+ aims to grow more than 20 percent by 2023-24.
The brand is now focussing on empowering beauty advisors with its advanced range of products and skincare solutions.
Vidur Kapur, Director, O3+ commented, “We not only deal in professional range of treatments and products but also give hands-on training and education for the same. Working on the principle of ingredient technology, along with the team of chemists, cosmetologists, and dermatologists, O3+ possesses a complete understanding of how ingredients interact with the skin to help their clients get the best result.”
Having its own production facility, the brand has gained an extensive presence across India, Nepal, and Bangladesh, and is also seeing traction in Dubai and Canada.
O3+ is also set to introduce more premium ranges for its customers and add unique services with premium salons for its product offerings.