mCaffeine, the Mumbai-based personal care products startup, is looking to achieve a revenue of Rs700 crore in about three years. Not only is it focussing on aggressive expansion across online as well as about 10,000 offline retail channels, it is gearing to expand its 60-strong team to 200 members.
The brand, which offers caffeine-based personal care products, and already has over two million customers, is working on expanding its product range too. Therefore, in the next one and a half years, it will hire more people for various roles in marketing, supply chain as well as offline retail.
The Company is planning to strengthen its presence in Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Maharashtra, Punjab, Gujarat, Bengal, as well as some parts of Chattisgarh.
Although the bulk of its revenue is expected to come from online sales, 30 per cent of the revenue is hoped to come from its offline retail channels. In the next three years, that is, by financial year 2024, the Company hopes to have between 8,000 and 10,000 retail points across India.
Owned by Pep Technologies and supported by various investors, including Amicus Capital and RPSG Ventures, mCaffeine received funding of Rs 60 crore. It has its own research and development team, but has collaborated with third parties to manufacture its products.
Co-founded by Tarun Sharma, who is the CEO of the Company, mCaffeine hopes to expand internationally in the future.
