Skincare brand Earth Rhythm is targeting Rs 150 crore sales in FY23 as the direct-to-consumer brand is witnessing exponential growth on the customer acquisition side.
Earth Rhythm, in which beauty and fashion brand Nykaa has made strategic investments earlier this year, plans to venture into retail and is targeting to open over 100 kiosks in India and offshore markets such as the Middle East and US.
The company has witnessed exponential growth on the customer acquisition side. In FY22, the number of customers increased by over six folds in comparison to FY21, said a statement issued by the company.
In addition, the brand saw over six-fold increase in orders per month, along with a three times increase in website visits.
''The brand has grown by over 500 per cent between financial year ending '21 and '22 and is targeting a Rs 150 crore ARR for FY23,'' it said.
Launched in 2019, the digitally native brand offers professional-grade products in hair care, skincare, and makeup lines targeting those in the age group of 18-40.
Earth Rhythm has raised over $9.2 million and is backed by investors such as Nykaa and Anicut Angel Fund.
(With PTI inputs)