Medimix MD eyes double-digit revenue growth in FY20, lines up slew of launches

A 50-year legacy brand from Cholayil family is all set to strengthen its portfolio to capitalise on the current wave of increasing usage of natural ingredients by the consumers.

In a freewheeling chat with Moneycontrol, Pradeep Cholayil, Managing Director - Medimix, said, “We are planning to introduce new products. We will strengthen our face-wash portfolio. This will be followed by a line extension of products into hand wash and body Wash categories, which are a seamless fit with our brand guidelines, positioning, and strategy.”

The consumer demand for natural ingredients and healthy alternatives for skin treatment and protection is on the rise because of their therapeutic value. They are slowly ascending towards ayurvedic products for them being chemical-free and zero side effects, he said.

Launched in 1969 by Late Dr VP Sidhan, Medimix is a pioneer in ayurveda space.

Pradeep Cholayil took over the reins of Cholayil Pvt Ltd after Dr VP Sidhan passed away in 2011.

Cholayil is amongst Kerala's most prominent and respected ayurvedic families practising ayurveda for generations.

Over the years, the group has diversified its business into personal care, ayurvedic pharma products and ayurvedic treatment and care services.

Medimix, Cuticura and Krishna Thulasi are the three main brands that Cholayil offers under FMCG space.

Apart from the iconic Medimix soap which contributes 90 percent to their business, Cholayil offers Medimix ayurvedic face-wash, body-wash, hygiene-wash, and nourishment shampoo.

Cholayil said, “We have stayed the course and want to remain the leaders in the ayurvedic soap segment.”

Medimix portfolio consists of soaps with four variants (18 Herbs, Natural Glycerine, Sandal and Turmeric) and face-washes with eight variants (anti-pimple, anti-tan, oil clear, everyday face scrub, moisturising, natural glow, turmeric and anti-pimple).

Every year, the contribution of ayurvedic/natural/herbal segment is increasing by 1 percentage point. It is expected to touch 41 percent by 2021, Cholayil said.

Brand re-launch

Cholayil said that the brand is growing in double digits after a strong re-launch.Medimix recently re-launched eight variants of the face-wash 'Skin Fit' collection.

“Medimix, with its new product line, is setting up an example of how ayurveda can revolutionise and disrupt the current skincare industry. The brand believes in keeping itself updated with the changing needs of the consumers and market trends and has come up with a slew of new products along with the classic Medimix soap,” Cholayil said.
Growth Plans

The personal care and face-wash market is Rs 13,000-crore-large industry. Within this space, Medimix aspires to grow at a pace faster than the market to gain share in the core markets.

To survive in the game, the company is also planning to increase its media spends.

“We are slowly upping our media spends and we will continue our approach of focus markets and focus categories,” Cholayil said.

To meet consumer needs, Medimix will be expanding its skincare portfolio extensively. For this, the company has planned a series of launches for the next two years.

The company is planning to launch products in the hand-wash and body-wash categories in the near future. They will also launch products in the premium skincare categories.

“There is also geographical expansion planned on Soaps category which contributes the most to our business," Cholayil said.

In FY19, Medimix crossed revenue of Rs 200 crore in 2018 is targeting ‘a strong double-digit growth’ in FY20.