Entrepreneurs are often the ones looking for solutions to common problems that appear one after another. Vivek Singh is one of those who walked the same path.
His wife buys hair care products whenever she travels abroad. When asked the reason for this, she said that Indian products are not as quality as international premium products. Vivek discussed the matter with his friend Sourav Patnaik. The two explored why quality cosmetics are not available in India.
Research is being conducted on a number of products around the world. But why isn’t India reaching the same level as those international products reaching other countries? This was their next question.
The two consensually decided that we could work with laboratories that have conducted such research and introduce a quality product to the market that surpasses international brands.
The two mobilized their savings together and also raised funds from friends and relatives. And started Anveya Living Pvt. Ltd in 2018 in Bangalore.
Products and sales
Anveya Living initially operated from a single warehouse. In the year 2019, it started producing pure essential oil and cold pressed oil. That same year, they launched products that address hair and skin problems.
The company works with R&D laboratories in countries such as Germany and Switzerland. It also works with manufacturers in Chandigarh and Noida.
“We offer 40 products including hair care, skin care, cold pressed oil and essential oil. We sell through www.anveya.com , www.thriveco.in and through sites like Amazon and Flipkart” says Vivek.
The company had a revenue of Rs 1 crore last month. They plan to quadruple revenue by the end of this year and earn a monthly income of Rs 4 crore.
Quality equivalent to an international brand
Now many companies regret that they are selling low quality products to consumers in India as compared to international brands.
“Even raw materials banned in many countries are in use in India. So we wanted to offer the best, quality products to Indian consumers. We are trying to change the perception of people that Indian products are substandard” he said.
Some ingredients are purchased locally depending on the nature of the product. Some are imported.
D2C business model
Anveya Living operates on the D2C business model. Sells through own website. The company also manages e-commerce sites such as Amazon and Flipkart. Thus the interference of middleman, resellers etc. is avoided.
Vivek says 60 percent of sales are made through his own website and 40 percent through other e-commerce sites.
“Being in direct contact with customers allows us to hear their needs and opinions. Based on this, we are able to modify products and create new products” says Vivek.
Data from Mordor Intelligence and Statista indicate that the market for cosmetics products in India is expected to grow to $ 20 billion with an annual growth rate of 4.23 percent between 2020-2025 .
The founders say that Anveya’s operations are gradually recovering and expanding even though Corona initially suffered. Having been operating online since before the epidemic, they continue to stay in touch with customers and further strengthen business operations.
They plan to launch an additional 70 products under the new categories this year. The company, which has been operating on its own so far, also plans to raise funds in the coming days.