According to the startup, The raised capital would be utilized towards growth-focused initiatives, including enhancing the distribution network, advancing technology, expanding its product portfolio, and bolstering research and marketing efforts.
Since its launch in early 2023, Herby Angel claims to have established a strong market presence. The brand is available across 13 states, with over 1,300 retail points of sale.
It now aims to scale this footprint to more than 2,000 retail stores, covering 18 states, by March 2024. This expansion is not just limited to offline retail but also includes a significant online presence on major e-commerce platforms like Amazon, Flipkart, JioMart, and FirstCry.
What does Herby Angel do?
Herby Angel offers a diverse range of over 30 products in the health and wellness sector. These include nutraceutical and cosmeceutical products under various categories like skin care, hair care, nutrition, and essentials.
The brand's focus on ayurvedic and organic products taps into the growing demand among younger consumers for sustainable and ethically conscious products.
The current landscape of the Indian personal care market
According to Expert Market Research report, The Indian beauty and personal care market has been experiencing significant growth, reaching $23.99 billion in 2023. This market is projected to expand at a compound annual growth rate (CAGR) of 10.8% from 2024 to 2032.
A key factor driving this growth is the rising disposable income among Indian consumers, which has increased the demand for improved beauty and personal care products. Notably, The trend is also influenced by a growing consciousness about personal appearance.
One notable shift in the market is the increasing popularity of herbal cosmetic products. As consumers become more aware of the potential harms of chemical-based products, there's a surge in demand for natural and organic options.