Deepika Padukone’s skincare brand, 82°E, is set to expand its product offerings across categories, bolster its presence in marketplaces and offline channels, and venture into new geographies, as revealed by Jigar Shah, co-founder of 82°E.
Discussing the company’s strategy for 2024, Shah stated, “Our plans for 2024 revolve around growth in three key areas: introducing a wider range of products, expanding channels both online and offline, and extending our geographical footprint globally.”
He further mentioned that, regarding geographical expansion, the company is in discussions with major players to establish a more significant presence in specific regions. Currently, the brand considers the US, Singapore, and Australia as its top three countries.
At present, the startup generates all of its sales exclusively through its website.
Shah stated that 82°E enjoys a global market reach, having shipped products to 50 countries last year. Regarding the Indian market, while the brand sees substantial sales in metropolitan areas, Shah emphasized, “We have a presence across India, catering to customers in tier 1, 2, and 3 cities, as well as smaller towns.”
He expects acceptance to grow in tier 2 and 3 cities as the brand matures.
Declining to disclose the revenue figures for the brand, Shah mentioned that the company has witnessed a notable rise in repeat rates for its initial products, soaring from 20-25 percent to 60 percent.
“This gives us validation about our products working and the acceptance of our products,” he said.
Diversifying its range, 82°E has ventured into the bodycare category. Discussing the recent launch, Shah explained that the products are developed with a scientific approach to body care and showcase a distinctive symbalance technology.
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