Beauty and wellness brand WOW Skin Science is witnessing double digit growth with company revenue at Rs 320 crore in FY23, driven by strong offline sales across 40,000 real touchpoints, the company said in a statement. The growth is fuelled by their Innovation Lab and a digital first, omni-channel approach. WOW Skin Science aims to reach the Rs 1000 crore revenue mark by the end of FY26.
WOW Skin Science continues to invest heavily in developing its in-house formulations at the WOW Innovation Lab. This focus, the company said, has led to growth, leading to a five-fold increase in contribution of innovation to the top line.
The homegrown brand has also forayed into foreign markets and retails through Walmart. The company is also looking at partnerships with more key retailers in the US like Target, CVS and Walgreens.
Overall, the company said that it is expected to post a double-digit growth figure in FY24 with an improved bottom-line, with a double-digit gross margin increase, as well as streamlining of marketing in line with its changing channel mix and an increasing share of offline channels.
Manish Chowdhary, Co-founder, WOW Skin Science, said, “As a brand, we’ve evolved over time with respect to the needs of our consumer base. The international markets are also responding positively to our range of products. There is a heightened sense of personalisation among the self-care community, and with WOW’s unique Activated Naturals, we believe we can be the brand everyone looks up to.”