Organic personal care brand Soulflower is evaluating opportunities in organic and inorganic natural cosmetics and fragrances categories, a senior company official said.
âWe are open to acquisitions in India. We are looking for opportunities in natural cosmetics and perfumes. We are looking for companies that have natural elements in cosmetics, if we cannot find any, we will enter this space ourselves. We will be looking primarily at lip, nail and skin care products, âSoulflower CEO Amit Sarda said as quoted by PTI.
According to a report from PTI: The city-based company, which focuses on the mid-range segment, is present in categories such as essential oils, carrier oils, soaps, bath salts and diffusers aromas, among others.
The company largely focuses on modern commerce and online sales channels, but now it is also considering general commerce to further penetrate the domestic market.
âFour months ago, we started selling our hair oils in general trade, including pharmacies, beauty stores and some supermarkets. By the end of the year, we plan to be present in 6,000 stores. We have now passed through 350 stores, âhe said, as quoted by PTI, adding that the company will first look at the western and southern markets for retail through general trade, followed by 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.
âLast year we entered the United States and now we are looking at the United Kingdom and the United Arab Emirates. By the end of the year, we will be present in both of these markets. The strategy to launch our brand in the international market is only done online, âhe told PTI.
In the United States, the company has partnered with Amazon and Walmart for online retail and expects it to be a larger market than India in the next few years. It also plans to set up a manufacturing unit there within two years.
âIn the next two years, it is planned to set up a plant in the United States for our oils because consumption will be much higher. The raw materials would come from India. Pennsylvania is a suitable place for us to create a unit, âhe told PTI without disclosing the details of the investment for the same.
It has two manufacturing units in India in Mumbai and Pondicherry.