Organic personal care brand Soulflower is evaluating opportunities in the organic or inorganic natural cosmetics and fragrance categories, a senior company official said.
“We are open to acquisitions in India. We are looking for opportunities in natural cosmetics and fragrances. We are looking for companies that have a natural element for cosmetics, if we don’t find one we will enter this space ourselves .will look at lip care, nail care and skin care products,” Soulflower chief executive Amit Sarda said here.
The Mumbai-based company, which focuses on the mid-range segment, is present in categories such as essential oils, carrier oils, soaps, bath salts and aroma diffusers, among others.
The company mainly focuses on modern commerce and online sales channels, but is also considering general commerce to further penetrate the domestic market.
“Four months ago, we started selling our hair oils in general commerce, including pharmacies, beauty stores and some supermarkets. By the end of this fiscal year, we expect to be present in 6,000 stores. We have now gone through 350 stores,” he said. that the company will first look at the western and southern markets for retail through general trade, followed by the central, northern and eastern regions.
Soulflower made a foray into the US market last year and now plans to expand its presence in the UK and UAE.
“Last year we entered the United States and now we are looking at the United Kingdom and the United Arab Emirates. By the end of this financial year, we will be present in these two markets. The strategy of launching our brand in the international market is only done online,” he said.
In the United States, the company has partnered with Amazon and Walmart for online retail and expects it to be a bigger market than India in the next few years. It also plans to set up a manufacturing unit there in the next two years.
“In the next two years, it is planned to set up a factory in the United States for our oils because the consumption will be much higher. The raw materials would come from India. Pennsylvania is a suitable place for us to install a unit,” he said without disclosing investment details for the same.
It has two manufacturing units in India in Mumbai and Pondicherry.