Wellbeing Nutrition aims to earn net revenue of Rs 90-100 crore in FY23; to increase ad spend by 400% to Rs 40-50 crore  | The Financial Express

Wellbeing Nutrition aims to earn net revenue of Rs 90-100 crore in FY23; to increase ad spend by 400% to Rs 40-50 crore 

As per the company, it clocked net revenue of Rs 19.3 crore in FY22 while it incurred a net loss of Rs 5.8 crore

Wellbeing Nutrition aims to earn net revenue of Rs 90-100 crore in FY23; to increase ad spend by 400% to Rs 40-50 crore 
According to Avnish Chhabria, the company expects funding of $10 million in the next 30 days

Plant-based nutrition company Wellbeing Nutrition expects to clock net revenue between Rs 90-100 crore in FY23, Avnish Chhabaria, founder, Wellbeing Nutrition, told Brandwagon Online, adding that the company expects its net loss to be at about Rs 50 crore. “We aim to raise fresh funds worth $10 million in the next 30 days,” Chhabaria said.  Furthermore, it claims to have begun its expansion in the US, UK, and in Middle Eastern markets. 

As per regulatory filing accessed by business intelligence platform Tofler, Nutritionalab Pvt. Ltd., the parent company of Wellness Nutrition, clocked net revenue of Rs 19.3 crore in FY22 while it incurred a net loss of Rs 5.8 crore.

The company claims to have spent Rs 7.8 crore in marketing in FY22 and plans to increase its spending by more than 400 percent to approximately Rs 40-50 crore this fiscal. Additionally, the company works with influencers such as Mira Kapoor, Rakul Preet Singh, and Dulquer Salmaan in India. “Digital accounts for almost 90% of the ad spend with 10% being directed towards offline stores,” Chhabaria added. 

According to the firm, online channels account for nearly 70% of its revenue. These channels include Amazon and other e-commerce platforms, in addition to the company’s own website. While offline retail accounts for the rest 30%, Chhabaria said. So far the company claims to have tied up with nearly 1,500 retailers and expects this number to increase to 2,000 by the end of the third quarter of the ongoing fiscal. India accounts for 95% of the company’s revenue while it earns the rest five percent through export. “We export to nine different countries currently. Being a premium brand, metros and tier-1 cities account for 70% of the company’s consumer base, and tier-2 cities account for 20%,” Chhabaria stated.  

It plans to invest nearly 50-55% of the fresh funds in developing its business in new markets. “We have already started distribution at key global retailers such as Holland & Barrett across the UK, Walmart in the US, and Nahdi and Life Pharmacy in the Middle East,” he added.

Also Read: Menswear brand DaMENSCH claims to clock a turnover of Rs 100 crore in FY22; opens its first offline store in Bengaluru  

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First published on: 04-11-2022 at 09:59 IST