Vedix eyeing to tap key regional markets and expand to tier II & III cities
Vedix, eyeing to strengthen its position across key regional markets in India
Vedix, eyeing to strengthen its position across key regional markets in India. The brand as part of twin-marketing strategy is eyeing to tap both regional and international markets simultaneously.
Vedix, a Hyderabad-based customised Ayurveda beauty tech startup, leverages the power of AI and Ayurveda to design hyper customized hair and skin care regime to deliver the maximum benefit for our skin and hair problems.
Jatin Gujrati, Business Head, Vedix says, "We want to evolve as a brand that continues to innovate in the area of scientific and holistic beauty, offering transformative care with Ayurveda as the foundation. Combining 30,000+ hours of intensive research, collaboration with experts and historical evidence on Ayurveda, herbal extracts and essential oils, we have created a detailed evaluation process to offer our customers a hyper-personal remedy, backed by modern technology and the goodness of organic ingredients."
IncNut Digital is the group holding of Vedix brand. Vedix has created a dominant position in the Indian beauty market by intelligently leveraging the D2C and online marketplace model to reach its customers pan India. It launched the skincare range in 2020, making it India's first skincare brand to launch 100% edible grade non foaming cleanser made with high-quality ingredients.
"Nearly 65% of our customers are based in non-metro cities like Vadodara, Rajkot and Surat The concept of Ayurveda is a proven one, we want to deliver it to every Indian with the DNA of Ayurveda intact so that customers who are looking for authentic solutions tailor made for them get it at an affordable price," adds Jatin.
Gujrati is driving the growth strategy and the regional market outreach, "We aspire to make Vedix a household name in the country. Currently, our annual run rate is over Rs 160 crore and aim to clock Rs 500 crore by 2025. To realise this ambition, the company plans to tap key regional and entry international markets this year, he adds.
Since its launch in 2017, 3 million customers have taken the personalised questionnaire - VPQ -to understand their hair and skin problems in depth. The Company has served more than a million orders since its launch and continues to add over 90,000 customers every month. Vedix has a repeat customer's rate of 60% which is double of the industry average.
Constant feedback loops and customer data has helped further fine-tune the offerings, helping Vedix to curate an exclusive experience for each individual. While most Ayurveda products in the market revolve around a fixed set of ingredients, Vedix dives deep to understand the prakruti of the person to customise his/her beauty regime.
InsightAce Analytics predicts that the global market for personalised cosmetic products will grow from $38 billion reached in 2019 to $72 billion by 2028. This all-natural, Ayurvedic company's offerings are right at the heart of this transformation and behavioral switch, fostering sustainable beauty, with multiple ranges, formulations and experiences, for both men and women across the globe.