Vellvette Lifestyle’s Vineeta Singh, ET Retail

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Vellvette Lifestyle Pvt Ltd, the parent company of SUGAR Cosmetics and Quench Botanics, is planning to build Quench Botanics a Rs 100-crore net revenue brand in the next 12 months, said Vineeta Singh, co-founder and CEO, Vellvette Lifestyle Pvt Ltd.

Currently, Korean skincare brand Quench Botanics which offers 90 SKUs, is present across 1,000 touchpoints including Health & Glow, Shoppers Stop, NewU, all the major e-commerce marketplaces, and D2C website.

“This financial year, we will be opening 10-15 EBOs of Quench Botanics in cities like Bengaluru, Hyderabad and Mumbai. The average size of the store will be around 100 sq.ft,” Singh said.

“To aid the expansion plans, we will be spending Rs 50 crore in the next one year across distribution, marketing, and product development. We will also be launching 20-30 more SKUs over the next 12 months,” she further added.

At present, 50 per cent of the revenue of Quench Botanics comes from online channels and the rest 50 per cent comes from offline channels. And D2C is about half of the online business.

“Skincare as a category is exploding omnichannel and it is not just restricted to D2C anymore. So we would prefer to hold this revenue mix. Social media is going to drive awareness and purchases will happen both online and offline,” she explained.

From FY 23 to FY 24, Quench Botanics is expected to grow 4x at a net revenue level.

“By the time we list in the next 2-3 years, we want Quench Botanics to be about 15-20 per cent of the company’s business,” she stated.

Vellvette Lifestyle Pvt Ltd has formed a JV with actress Kareena Kapoor Khan to come on board as an investor and co-owner of Quench Botanics.

“Kareena will have a more strategic role to play. We have our forte in distribution, content production, and team building, whereas she will help in educating the consumers,” Singh said.

In FY23, Vellvette Lifestyle grew about 90 per cent over FY22 to about Rs 425 crore in net revenue and improved its EBITDA margin by about 15 per cent.

This year, it is targeting a 60 per cent growth along with hitting the break-even point.