Av Organics, the maker of mineral-rich, black alkaline water Evocus, plans to add at least one more product to its portfolio by next year. The Vadodara-based start-up currently sells only one product: Evocus which, according to its founder, has received good response.“We have a R&D team that is trying to develop new products.
Once the product is ready, we will try the prototypes, select the packaging (and more) before rolling it out in the market. It will take some time but we will have new products for sure. In the next 12 months, we should have one more product in the F&B segment,” said Aakash Vaghela, founder and managing director, AV Organics LLP.
Besides the new product, the company is all set to introduce 330 ml version of its core product from next month. At present, Evocus is available in 500 ml bottles priced at Rs 100 each, sold across retail outlets, supermarkets and e-commerce platforms. AV Organics has also partnered with Amazon and Snapdeal.
On expanding the reach of its niche product, Vaghela said they would be starting operations in Hyderabad, Mumbai, Bengaluru and Goa this month and is in talks with online grocery firms BigBasket and Grofers to list its product.
“The plan to become more visible and reach 100 cities and towns by March 2021,” said 30-year-old Vaghela, who comes from a real estate background. “We created this segment in India as we saw a good business opportunity. The market for premium water is pegged at Rs 900 crore and is expected to grow at a CAGR of 22 per cent. There is room for new players to grow in this segment,” he added.
The company, which started off selling the product in June this year, has invested $1 million in setting up a fully-automated manufacturing and bottling plant in Vadodara, Gujarat. The facility has a capacity of producing 40 million bottles per year. The company has so far invested $1.5 million in operations.“As we expand our operations, we would require more investment. We would surely raise funds in future,” the founder said, adding that the company has set a target to sell 3-5 million bottles of Evocus by June 2021.
Talking about the health benefits of the alkaline water, Vaghela said Evocus’ unique formulation provides superior and sustained hydration, better detoxification and improved metabolism. According to him, the purified water contains over 70 natural trace minerals and receives its unique black colour from a blend of natural minerals sourced from deep within the Earth’s crust in Texas, US.
AV Organics’ existing product
Talking about the health benefits of the black alkaline water, Vaghela said Evocus’ unique formulation provides superior and sustained hydration, better detoxification and improved metabolism. According to him, the purified water contains over 70 natural trace minerals and receives its unique black colour from a blend of natural minerals sourced from deep within the Earth’s crust in Texas, US.