UK-based The Body Shop is expecting India to be amongst the company’s top five markets by 2024. Currently, The Body Shop India is in the sixth position, said a company official. The company’s strategy to get the fifth position is to expand its omnichannel network with a focus on D2C. The Body Shop also plans to expand its makeup offering in this fiscal.
Speaking to BusinessLine, Vishal Chaturvedi, Vice President, The Body Shop India, said that the company had managed to surpass its pre-Covid levels despite import difficulties. “For this fiscal, we aim to grow by 35-40 per cent,” he said.
The Body Shop India is managed by Quest Retail Pvt Ltd and is operational in India since 2006.
Chaturvedi said that the company is bullish on its growth in India. “Over the past year, we have managed to reach our pre-Covid level sales in India. This year, we did a gross revenue of approximately ₹550-600 crore. For The Body Shop globally, the top market is in the UK, followed by Indonesia and Australia.”
Sales share
To achieve this goal, the company plans to have a have focus on omnichannel growth. Today, over 80 per cent of its sales come from offline retail and 20 per cent comes from its e-commerce presence with a bulk of them coming from its website.
“Compared to pre-Covid levels, our D2C sales have grown 2x and over the next couple of years, we plan to make it 2x more,” he said adding, “Over the past two years, we have acquired new customers both online and offline.”
The Body Shop operates 200 stores across the country. Chaturvedi said that the company plans to add 25 more stores in this fiscal and has a delivery presence in 30,000 pin codes in India. “Our focus is to add maximum people. We are adding stores strategically so that they also act as a delivery hub for the company,” he said.