Soothe Healthcare eyes Rs 500 crore revenue in 3 years
Homegrown personal hygiene products maker Soothe Healthcare, whose brands are Paree sanitary pads and Super Cutes diapers, is looking at revenue of Rs 500 crore in three years as it expands products portfolio and builds distribution presence across the country.We manufacture, distribute and market personal hygiene products..PTI | New Delhi | Updated: 24-01-2021 12:10 IST | Created: 24-01-2021 12:10 IST
Homegrown personal hygiene products maker Soothe Healthcare, whose brands are Paree sanitary pads and Super Cute's diapers, is looking at revenue of Rs 500 crore in three years as it expands products portfolio and builds distribution presence across the country.
''We manufacture, distribute and market personal hygiene products.. We believe there is tremendous (growth) opportunity as income rises and awareness increases. Paree sanitary pads is already a Rs 100 crore brand. With Super Cute, we are looking to add another Rs 50 crore,'' Soothe Healthcare Chief Executive Officer and Founder Sahil Dharia told PTI.
Dharia said the company expects the sanitary napkins market to have tailwinds on the back of government initiatives and growing awareness in the coming years.
''So we believe we will be a Rs 500 crore company in three years... We are now an FMCG company that is looking beyond sanitary napkins. We are also in baby diapers now. We plan to get into the adult diapers space and launch products next year. One product at a time,'' he added.
When asked what was the rationale of launching a new product during a pandemic, Dharia said: ''It was a calculated risk..We understand absorbent products well; we have assets in distribution.. We have launched innovative products in the diaper space. In a very short time, Super Cute will be a Rs 50 crore brand. It is already a Rs 40 crore brand.'' Elaborating on distribution for its products, Dharai said: ''We are focussed on non-metros (cities) at the moment. For Super Cute, we are in the top 20 cities right now, and we will be in the top 30 cities in the coming months. We plan to increase distribution to pan India by the second half of this calendar year''.
Dharia started the company in 2013 with a seed capital of Rs 8 crore. Over the years, Soothe Healthcare has raised several rounds of funding and invested by foreign institutional and domestic investors such as London listed private equity fund, Symphony Asia Holdings Pvt. Ltd. and Mumbai-based consumer fund, Sixth Sense Ventures.
Sixth Sense has already invested thrice in the last three years, and Symphony invested twice.
When asked how much money the company has raised so far, he said: ''We have raised several hundred crore. We are well capitlised. For our capital expansion, we continue to raise debt.'' PTI SVK SHWSHW
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