“The income generated has increased by 80% year on year. The total income would amount to Rs 50 crore (in FY21) … We are aiming for Rs 100 crore gross of income (in FY22), that is that’s about 100 percent growth from last fiscal year. About 60% of total revenue will come from our online sales, “Pee Safe Founder and CEO Vikas Bagaria told PTI.
He added that online channels brought the organization around 60% of the total revenue generated in the 2020-21 fiscal year.
Pee Safe’s products, including its popular disinfectant toilet seat spray, are available across India in over 10,000 stores and over 100 cities.
In addition to considering a $ 10 million Series B fundraiser, Pee Safe plans to expand its retail presence from the current 10,000 stores to more Franchise-Owned Exclusive Brand Stores (FOFOs). to improve the customer experience across India. Pee Safe plans to launch 50 offline stores within the next 12 months.
âThese stores will be franchise-owned stores operating under standard operating procedures established by the company. At the moment, there are three stores in Ahmedabad, Kolkata and Bangalore. The new store openings will take place in Gurugram, Indore. , Nagpur, Imphal and other Tier I and II cities, âBagaria said.
The new stores introduced under the FOFO model will not affect traditional retailing in any way, he added.
Asked about fundraising plans, he said: “The amount we seek to raise should be justified by the end of the year, in line with our current roadmap.”
The company has raised a total of $ 9.5 million to date.
Bagaria noted that while the company started with apprehensions, where people wondered why it had ventured into products riddled with social stigma, Pee Safe is now a name to be reckoned with in the hygiene category and well. -to be.
“We are seeing an increase in traction for our products in the sexual wellness and beauty categories under the Domina and Furr brands … We hope to spark conversations on topics such as menstrual care, hair removal and hair styling, intimate hygiene and sexual pleasure in the mainstream, âhe added.
Bagaria said that while Pee Safe is still a digital foremost brand, it is evolving over time to embrace a hybrid retail model that integrates online and offline points of sale.
âThe purpose of the expansion is simple – to become more accessible to the customers we serve. We have seen an influx of customer inquiries regarding our offline presence in their localities / cities. As an in-kind benefit, this initiative will help. to personalize the customer experience, build loyalty and furthermore promote high recall value for our customers, âhe said.
Speaking of international expansion, Bagaria said the brand has already grown overseas and is building a local production of toilet seat disinfectants in Europe.
âAt the moment, we are available in Germany and plan to expand into Central and Western Europe in the coming years. At present, international trade revenues represent a total of 5-7%, âhe said.
Bagaria said the contribution percentage has increased from 2 percent in the previous two years.
“The company is looking to expand its presence in the MENA and SEA regions, outside of the existing US and UK markets,” he added.