Ayurvedic personal care and beauty brand The Ayurveda Co plans to expand its brick-and-mortar retail presence in the Middle East and North Africa region. The business also plans to open 50 exclusive brand outlets in India during the current financial year.
The Ayurveda Co sees a significant growth opportunity in the MENA region after recently entering Dubai, Indian Retailer Bureau reported. The business also expects to see non-metro locations in India drive growth and will concentrate on Tier 2 and 3 cities for its domestic store openings in the 2014 financial year.
“The current market size of Ayurvedic wellness products in India stood at Rs 626 billion in 2022, showcasing the growing opportunity within the sector,” said The Ayurveda Company’s co-founder Param Bhargava, Indian Retailer Bureau reported. “In alignment with the Ayush Sector Vision 2047, we aim to be a torchbearer of Ayurvedic principles, making them accessible and relevant to the modern world. Our products and initiatives are centred around holistic wellness, guided by Ayurveda’s wisdom.”
The Ayurveda Co specialises in direct to customer retail and registered 500% revenue growth from March to October in 2022. The business expects to reach breakeven by March 2024 and is eyeing profitability in the 2025 financial year.
“As our local and global presence expands, we steadfastly uphold our dedication to honouring local regulations and preferences, fuelled by an overarching aspiration to establish T.A.C as a renowned Ayurvedic emblem, disseminating the timeless wisdom of Ayurveda to a worldwide audience,” said Bhargava.
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