NEW DELHI: Pee Safe is stepping up its offline presence and plans to add 50 new stores through the franchise route with the aim of recording Rs 100 crore in gross revenue in FY22.
The health and wellness company, which is also looking to raise new funds, is looking to expand its presence in the MENA (Middle East and North Africa) and SEA (South East Asia) regions.
“Revenue generated increased by 80% year-on-year. Total revenue would be Rs 50 crore (in FY21). We are targeting gross revenue of Rs 100 crore (in FY22), representing growth approximately 100% since the previous financial year.
Around 60% of total revenue will come from our online sales,” said Pee Safe Founder and CEO Vikas Bagaria.
He added that online channels brought the organization around 60% of the total revenue generated in the 2020-21 financial year.
Pee Safe’s products, including its popular toilet seat disinfectant spray, are available across India in over 10,000 stores and over 100 cities.
In addition to considering a $10 million Series B fundraising round, Pee Safe plans to expand its retail presence from the current 10,000 stores to more franchise-owned, branded, exclusive (FOFO) stores. to improve customer experience across India. Pee Safe plans to launch 50 offline stores within the next 12 months.
“These stores will be franchise-owned stores operating under the standard operating procedures established by the company. Currently, 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 Tier II cities,” Bagaria said.
The new stores introduced under the FOFO model will not affect traditional retail in any way, he added.
Asked about fundraising plans, he said: “The amount we are looking 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 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 the popularity of our products in the sexual wellness and beauty categories under the Domina and Furr brands. We hope to spark conversations around topics such as menstrual care, hair removal and grooming. , intimate hygiene and sexual pleasure in the general public,” he added.
Bagaria said that while Pee Safe is still a digital brand, it is moving with the times to embrace a hybrid retail model incorporating online and offline outlets.
“The purpose of the expansion is simple – to become more accessible to the customers we serve. We have experienced an influx of customer inquiries regarding our offline presence in their localities/cities. As a social benefit, this initiative will help personalize the customer experience, build loyalty and promote strong recall value for our customers,” he said.
Speaking of international expansion, Bagaria said the brand has already expanded overseas and is developing local production of toilet seat sanitizers in Europe.
“Currently, we are available in Germany and plan to expand into Central and Western Europe in the coming years. At present, the income from international trade amounts to a total of 5-7%,” he said.
Bagaria said the percentage contribution had increased from 2% 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.