‘Endless opportunities’: India’s Organic Harvest aims to become $100m brand in three years
On January 23, Good Glamm Group announced that it had acquired a majority stake in the direct-to-consumer (DTC) brand Organic Harvest, a purveyor of ECOCERT certified beauty and personal care products.
This marked the group’s entry into the organic beauty space, furthering its ambitions to expand its vision of becoming a “digital house of brands”, said CEO Darpan Sanghvi.
“The naturals category is the largest category in India and the organics [segment] is one of the highest forms of natural. We believe Organic Harvest has a large opportunity in front of itself across segments in the beauty and personal care space,” he said.
Sanghvi told CosmeticsDesign-Asia that the company saw “endless” opportunities for Organic Harvest to accelerate its growth.
“Through organic, you can tap into skin care, hair care, hair colour, body care, grooming products… Organic, natural and cruelty-free beauty have become table stakes for a beauty brand today in India. But not many brands are ECOCERT Certified like Organic Harvest, this already puts the brand in the lead in the organic beauty category.”
The company believes Organic Harvest can more than triple its revenue run rate from Rs75cr (U$10m) to Rs250Cr ($33.5m) by March next year.
“The goal is to make it a $100m brand in the next three years,” said Rahul Agarwal, CEO, Organic Harvest.
The acquisition of Organic Harvest is unique for the group as the brand has been operating primarily in the offline space.
“Organic Harvest has predominantly been an offline first brand. Now as part of the Good Glamm Group, it will be able to leverage the group’s large digital audience,” said Agarwal.
According to Good Glamm Group, it reaches well over 100 million users through its digital content platforms POPxo, ScoopWhoop and Baby Chakra. Additionally, the company has a 1.5 million strong network of influencers under its Good Creator Co. umbrella.
Agarwal said he expects the brand’s online revenue, which currently accounts for only 10% of the business, to grow to 50% on the back of Good Glamm Group’s content-to-commerce engine.
At the same time, Organic Harvest would be able to share its offline expertise with Good Glamm Group as it seeks to amplify its omnichannel growth.
“We believe that to be truly direct-to-consumer you need to be present where the consumer is, both online and offline,” said Sangvhi.
The brand has expansion plans beyond India as well. Organic Harvest is currently available in nine overseas markets and is aiming to scale it up by 300%.
Additionally, Agarwal said the company intends to explore new categories. “Organic Harvest will further grow into new categories such as hair colour, which lends itself to organic benefits easily.”
Organic Harvest is the latest acquisition by the Good Glamm Group, which has invested in a slew of DTC beauty brands as well as digital media platforms in the last few months.
Sanghvi told us that more investments are on the card for the firm this year. “This year you will see us grow all our acquired brands three times from when we bought them. Additionally, there are still a few whole spaces where we would be eyeing more acquisitions and thus yes, you can expect more acquisitions from Good Glamm Group in 2022.”