Sri Sri Tattva, one of India’s leading health and wellness FMCG firms, is eyeing expansion in the international space.
In an interview with Indiaretailing Bureau at the sidelines of India Food Forum 2019, Arvind Varchaswi, MD, Sri Sri Tattva, said, “Today we export to about 36 countries and by 2019-end, we would like to double it to 72 countries.”
“The international market has really taken our product very well and we have been very strong in the US and European markets. Now we have also expanded our reach to the South-East Asian markets and also to the South America markets like Brazil, Argentina and Chile,” he added.
The other international markets where the brand is planning to concentrate is Russia and Mongolia.
The brand plans to increase the focus in the Argentinian market where they already have 1,000s of stores and the category which is doing well for the brand there also is toothpaste.
“Apart from this, in the Middle-East, we have entered into a strategic tie-up with Al Maya Group. According to the tie-up, our products will be available at all their stores. We have also done a strategic tie-up with Spar in Oman. We have also started to export a few of our products to Saudi Arabia on personal care front and we are hopeful to increase that as well,” he revealed.
“Bahrain is another market where we will be concentrating on and apart from this we will be concentrating on South-East Asian markets like Singapore and Malaysia,” he added.
Focus Area
Nationally, the main area of focus for the brand is going to be expanding the FMCG and personal care range.
“We are planning to concentrate on toothpaste, cookies and ghee, which are our fastest moving categories, in a big way,” he revealed.
“For our high-end skincare line, Shankara, we are going to open more franchise store and will also be typing up with more hotels to expand its presence,” he added.
The brand will be increasing presence in the categories which it is present in and has no plans, as of now, to add any new category.
It is also betting big on Indian rural market.
“We have already created 2,700 rural entrepreneurs and we have an aggressive plan of creating 25,000 by year-end. They are not salesmen but the entrepreneurs who are creating their own business. We teach them how to run the business and make it sustainable,” said Varchaswi.
E-commerce: The Future
The brand is also increasing the focus on online. “Currently, e-commerce is contributing around 10-12 percent and we would like to increase it to 17-20 percent by the end of this year,” he stated.
“We have done a lot of strategic tie-ups to increase our online presence. We have the tied-up with Big Basket, 1mg and many more such players. We have our own app, website. We are going to connect e-commerce to our brick-and-mortar stores to encourage sales at brick-and-mortar through e-commerce,” he added.
Revenue Targets
The brand hopes to ensure a three-digit percentage growth in the year 2019.
“We are targeting a very healthy growth rate this year. It is certainly got to be more than 100 percent and from franchise stores, we are targeting about Rs 500 crore coming from that one particular vertical,” he asserted.
The brand has reached the break-even point in all the categories seeing healthy growth on all the products.
Sri Sri Tattva currently sells its products across Omnichannel business with their products having touch points of 2,00,000 general trade outlets.
Expansion Plans Of BYOGI
Under the brand BYOGI, which has 200-250 SKUs, the brand has no plans to get into jeans as a category as the brand believes in comfortable wear, so it has presence in Indian ethnic wear, yoga wear and casual wear.
The Big Target
Sri Sri Tattva plans to expand its retail footprint with 1,000 retail stores by end 2019.
The company will have three type of stores — Sri Sri Tattva Mart, Sri Sri Tattva Wellness Place, and Sri Sri Tattva Home and Health.
Sri Sri Tattva Mart, the first format, will showcase and sell its packaged food, personal and home care products, while Sri Sri Tattva Wellness Place will focus on health and wellness, and will have healthcare practitioners who will provide a detailed diagnosis and prescribe lifestyle and ayurveda medicines to patients.
The third format, Sri Sri Tattva Home & Health will retail the entire range of daily use products and medicines apart from also having ayurveda doctors, Varchaswi said.
Sri Sri Tattva: The Brand
Sri Sri Tattva has been established by committed individuals with nearly four decades of experience. With a 360-degree approach including a College of Ayurvedic Science and Research, a state of the art hospital, inspired doctors and therapists, Panchakarma Wellness Centers, spas and clinics, and manufacturing facilities driven by technology and stringent control systems and widely growing franchise and retail presence, the brand has a holistic approach to health and wellness.
Sri Sri Tattva (formerly known as Sri Sri Ayurveda) comes with a goal of promoting health and wellness through its range of genuine offerings, innovatively derived from ancient science of Ayurveda.
Leading the modern world towards healthy and happy living through pure, authentic and effective products defines the objective of the brand towards its ultimate vision.
Inspiration
Sri Sri Tattva is inspired by the vision of Gurudev Sri Sri Ravishankar – ‘to lead the world towards happy and healthy living’.
The brand represents a strong commitment to social responsibility and proudly supports the Art of Living foundation’s rural and social welfare projects.
How Sri Sri Tattva is Different
Sri Sri Tattva has highly experienced Ayurveda Vaidyacharyas, health and Pulse Diagnosis (Nadi Pariksha) camps and ailment specific as well as rejuvenating treatments at its multiple centers.
The brand takes immense care in maintaining hygiene and safety standards in manufacturing products right from sourcing of raw material till they reach our end customers. Their frontrunner products like Ojasvita (Health Drink), Cow’s Pure Ghee, immunity builder Shakti Drops, Sudanta (Herbal) Toothpaste and range of Facewash are very popular.
Sri Sri Tattva has products in multiple categories of Ayurveda Medicines, supplements, food products, Personal Care products, Home Care and cleaning products as well as Incense and Fragrances for home and personal use.
There is a major focus towards the brand’s rapidly growing retail presence through multiple mediums including modern supermarket chains. Through general shops and the soon-to-be-launched Sri Sri Tattva franchise stores, the brand aims to enhance the presence of its product range across India.
Sri Sri Tattva’s online stores via website srisritattva.com and its mobile app caters to home delivery orders across India.
