Speaking exclusively post the launch of the lifestyle apparel brand BYOGI, Managing Director Arvind Varchaswi says the brand's first store will come up in Bengaluru.
Sri Sri Tattva is on an expansion spree. Speaking exclusively post the launch of the lifestyle apparel brand BYOGI, Managing Director Arvind Varchaswi says the brand's first store will come up in Bengaluru.
The company will also launch 50 exclusive stores of luxury brand 'Shankara'.
Sri Sri Tattva plans to expand ‘Panchkarma Spa’ across the country and abroad. The brand targets revenues of Rs 500 crores in two years from franchise store expansion.
Not just in India, the brand expects to double the exports from present 33 countries to 70 countries this year.
Q: Congratulations on the launch of BYOGI. Tell us more about the brand, what categories are you foraying into with this launch?
A: BYOGI by Sri Sri Tattva stands for a lifestyle product line. The brand symbolises the union of fitness and comfort. BYOGI offers a range of ethnic wear, yoga wear and accessories for men, women and children.
Q: Since the launch comes around International Yoga Day, is the brand targeted towards fitness enthusiasts. What is the trend you are witnessing?
A: Health, Wellness and Fitness are definitely trends we are seeing in youth across the globe. BYOGI has an exclusive range of Yoga Wear and Accessories which particularly interest these fitness enthusiasts.
Q: Where will the products be available? Are you tying up with e-commerce players for sale of these? What is the price range of products?
A: Currently, BYOGI products are exclusively available on our website srisritattva.com and our mobile app. We will be expanding its online and offline retail footprint this year. BYOGI will also establish its own stores in key cities beginning with Bangalore. The first store will come up in two weeks’ time in Jayanagar. The price range of the products are from Rs 299- Rs 1299 whereby it appeals to both the rural and urban market.
Q: You also have launched your international luxury brand ‘Shankara’ in India earlier this month. How the initial response has been. What is the vision for this brand?
A: We have got a fantastic response. We see a lot of potential for natural and luxury skin care products in India. ‘Shankara’ has been widely recognized in the West for nearly two decades. The products are available on our portals and on Amazon and Nykaa and we plan to open 50 exclusive Shankara stores in the next 3 years.
Q: Sri Sri Tattva has been on an expansion spree, so we know about the plan of opening 1000 stores. What kind of investments are you doing for this expansion and how are you funding these?
A: Apart from a focussed investment in R&D which has yielded star products like Sudanta, Shakti Drops, Ojasvita, the brand is also coming up with a new state of the art facility in Bangalore by the year end that will enhance its capacity especially for the Ayurveda Medicine and the personal care range. The business is self-funded along with funding from financial institutions.
Q: What are the other categories that you are planning to enter into going forward, we have already seen FMCG, Ayurvedic products, personal care and skin care and even lifestyle brands, so what next?
A: We launched home care range last year. In addition to our existing Oral Care range, we have recently launched a new gel based toothpaste. We will also be looking to expand the reach of our Panchakarma Spas to more cities across the country and abroad.
Q: Which are the geographies that you are present in right now? Any new markets that you are looking at tapping this year?
A: We will look to strengthen our presence in tier 2 and tier 3 cities this year. We are exporting to 33 countries spreading from Australia, Nigeria, Germany, USA and Argentina. We have recently activated the Middle East region and our products will be available across the region shortly. We have got the initial permissions to set up a full-fledged Ayurveda hospital in Oman and we are looking to complete the construction of the hospital by early next year. We have a target to export to 70 countries directly by the end of this year.
Q: With more people getting aware and returning to organic and ayurvedic products, what is the growth outlook you see for such products in the coming years?
A: There is a surge in demand for natural and herbal products. We are an Omni-channel business with our products having touch points of 2,00,000 General Trade outlets which we plan to double by the end of this year. We are present in trade outlets like Big Bazaar, More Megastores, Spencers, Reliance Retail, Metro Cash & Carry, Walmart.We have e-commerce tie-ups with Amazon, Flipkart, Ebay and Big Basket. We have tied up with Unibic for manufacturing healthy range of cookies for us. We have launched three different formats of franchise stores which are Sri Sri Tattva Mart, Sri Sri Tattva Wellness Place and Sri Sri Tattva Home & Health and are aiming to open 1000 franchise stores and get a revenue of Rs 500 crores within a time span of 2 years.