Male-grooming start-up The Man Company is planning to more than double its turnover this fiscal, as it eyes expansion into offline distribution channels. The company is also looking to turn profitable (EBITDA-positive) by December.

Turnover in FY-19 stood at around ₹36-37 crore, and is expected to be to the tune of ₹80-85 crore this fiscal. Its monthly run rate (expected turnover) is around ₹7-7.2 crore.

According to Hitesh Dhingra, Founder and MD, the turnover growth will be driven through offline expansion through standalone kiosks and pop-up stores. At least 10-15 such standalone pop-ups are expected.

The brand already has a presence across 450 premium salons and chains, including Toni & Guy, and in large format retail brands like H&G, Dabur’s, and NewU.

“We started expanding with standalone pop-up kiosks some six months back. Pilots across malls in cities such as Delhi, Kanpur, Ludhiana and Chandigarh found considerable success,” Dhingra told BusinessLine .

Currently backed by home-grown FMCG company Emami Ltd (which has a 30 per cent stake), The Man Company began as a predominantly online male grooming brand. It is amongst the few niche men grooming start-ups that and competes with the likes of Beardo, Ustraa and the Bombay Shaving Company.

Profitability

According to Dhingra, the company is expecting to turn profitable by the end of this year and sustain it. The online channel — sales through its own website and marketplaces such as Amazon, Flipkart and others — is profitable.

However, profits or EBITDA at the company-level are expected once the offline channels start to break even.

Dhingra said points out that the company is incurring some costs in offline channels, which include appointing a stylist in large format retail stores and also in setting up kiosks and pop-ups.

“The offline channel is growing at 10-15 per cent; but if we can get it up to 40-50 per cent over the next 3-4 months, then we will be on track,” he said.

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