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Cosmetics company Hygienic Research Institute Pvt Ltd (HRIPL), which is known for its hair colour brands Streax and Vasmol, is aiming to touch the ₹1,000-crore mark in revenues in the next three years.
Ashish Chhabra, Joint Managing Director, HRIPL said, “We had already tied up with Italian brand Lisap Milano and have got long-term distribution rights for the brand for the region. So, we are bringing the professional product range under this brand, which is sold through the B2B channel.”
He said that under this distribution tie-up the company is getting a large portfolio of nearly 150 SKUs of professional products which include hair colours, shampoos and conditioners, serums and styling products.
“The products are already in India. We had been testing and researching these products in terms of India hair conditions for the past one year..,” he added.
HRIPL had clocked revenues of about ₹550 crore in 2018-19. “Since the past two years, we have been growing at a CAGR of 14 per cent. In this fiscal, we are aiming to grow in the range of 18-20 per cent. We intend to touch the ₹1,000-crore mark in revenues in the next three fiscal years,” Chhabra added.
Distribution network
For this, the company has been strengthening its product portfolio across both professional and retail (also known as consumer) segments, as well as expanding its distribution in the urban and semi-urban regions.
For instance, recently it launched Streax Insta Shampoo Hair Colour, which is emerging as a fast-growing category in the hair colour segment. Chhabra said, “There has been a clear shift towards quick and convenient hair colouring solutions in the market. We believe this category is growing rampantly and we aim to have a strong market share in this segment.”
As far as retail distribution is concerned, the company — which has a direct distribution of over 4 lakh outlets — aims to grow it by 25 per cent year-on-year. In the salon or the professional channel, its products are currently sold in 25,000-30,000 outlets directly and the company aims to grow it to about 50,000 outlets in the next three years.
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