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New Delhi: Integrated pharmaceutical company Rivpra Formulation has entered into the direct-to-consumer (D2C) space with its premium skincare brand Oteria, Vibhor Rastogi, director of the company told ETRetail in an interview.
Established in 2005, Rivpra Formulation primarily manufactures pharmaceuticals, nutraceuticals, and cosmeceuticals. It presently operates with 4 subsidiaries under it including – Medisch Lifesciences; a construction unit Vibhor Buildcon; a marketing company Menrik Biomerge; & Manila Pharma.
The newly launched skincare brand Oteria will operate under Medisch Lifesciences, the company said.
Currently, the firm has launched 19 skincare products under Oteria emphasizing the concept of Circadian Rhythm, and has started selling on online channels including Amazon, Flipkart, and its online D2C platform. Going ahead, it is planning to launch 40-50 products in the next 12-18 months.
With plans for online expansion this year, it looks to be present on e-commerce platforms including Nykaa and Foxy, Maccaron India, and Tira Beauty. Further, it is eyeing partnerships with dermatologists and quick commerce platforms such as Blinkit and Zepto.
While speaking about its products and the brand’s growth, Rastogi shared, “We have high-efficacy products that work on the concept of Circadian Rhythm. We need to educate the consumers about the usage and the benefits of the products to grow our brand.”
The company presently manufactures its products in its own facility. Also, it has its research and development (R&D) unit for pharmaceuticals and cosmeceuticals with dedicated scientists working on the development of the products. It sources its raw materials from various places. However, in the near future, it will look at developing an Active Pharmaceutical Ingredient (API) facility which will enable it to offer consumers products with better efficacy.
Rivpra Formulation distributes pharmaceutical products in approximately 80 countries. So, with the new brand, it also plans to expand internationally in the next two years.
Sharing financial details of the company, Rastogi said, “We aim to reach Rs 350 crore revenue in the current financial year 2024-2025.”
The company has generated a total turnover of Rs 250 crore in 2023-24 including its subsidiaries, and its overall revenue stood at Rs 210 crore in FY22-23, Rastogi shared.
The contract manufacturing company has seen a growth of around 17.5 per cent in FY24 as against last year, and its profit margin was around 18 per cent, as the company shared.
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