Beauty and personal care business Plum Goodness hopes to achieve break even this financial year with a projected revenue total of Rs 400 crore. The Mumbai-based business aims to achieve this by streamlining its existing product lines and launching new products in its most popular product categories.
“We spent most of FY23 and FY24 trying to find a balance between how much we want to invest and how fast we want to grow,” said Plum Goodness’ founder Shankar Prasad, ET Tech reported. “We are now clear and hopefully in the current financial year, we will be able to break even.”
Plus Goodness’ new products will roll out over the coming six months and will include cosmetics, skincare, and haircare goods. The business will also change the focus of its men’s brand ‘Phy’ from skincare to shower goods and fragrances.
The business is, “focusing on fine-tuning our marketing approach by spending more on core categories, leveraging our existing consumer base better, letting go of channels or segments which are less profitable, leveraging our fixed base a lot more are the main areas we look at [for profitability],” said Prasad.
Plum Goodness reported a revenue run rate of Rs 350 crore at the close of the 2024 financial year. The business expects to see its annual revenue reach Rs 400 crore in the 2025 financial year by crossing a quarterly revenue run rate of Rs 100 crore this fiscal.
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