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Competition in the ayurveda and wellness segment category is set to increase.
Sri Sri Tattva, which belongs to Sri Sri Ravi Shankar, is seeking better margins in the FMCG and wellness segment by entering the luxury segment under Shankara, a new skincare brand.
The 15-year-old brand of Sri Sri Tattva’s kitty had only a restricted presence in export markets such as the US and Latin America.
Shankara would now be introduced in the country and a couple of stores under Shankara have been planned this year with metros and mini metros as key markets for the premium range pegged between ₹1,800-4,000.
Tej Katpitia, CEO, Sri Sri Tattva, told Businessline : “We have now decided to strategically bring Shankara to India and step up its presence through company-owned stores in the metro markets. There will be a range of 100 per cent natural skincare products.”
Product offering There will be almost 40 products, including luxury skincare products, such as brightening serums and under-eye gels.
But unlike the mass products of Patanjali, Shankara would be pitted against premium brands such as Kama Ayurveda and Forest Essentials.
Besides, Sri Sri Tattva would be exercising control over its retail operations by having company-managed stores.
“Unlike the rest of our exclusive 1,000-odd brand outlets that will run through franchises, Shankara stores would initially be owned by the company,” he added.
A 200 square feet pop-up store is already being test marketed in South Bengaluru , and there are plans to open larger storesin the city before venturing into other metro markets.
“With Shankara we will have a stronger presence in India. We already have a considerable presence in the export market as Shankara had been created for the overseas market across markets in the US and Latin America,” he added.
In the domestic market, Sri Sri Tattva is also stepping up its presence across the general trade, where it reaches out to 2-lakh outlets. Engaging the youth to take up distribution for its range of products is also being undertaken.
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