NEW DELHI: Pee Safe is stepping up its offline presence and plans to add 50 new stores via the franchise route as it aims to log Rs 100 crore in gross revenue in FY22.
The hygiene and wellness comapny, which is also looking at raising fresh funding, is looking to expand its presence in the MENA (Middle East and North Africa) and SEA (South East Asia) regions.
"The revenue generated increased by 80 per cent year-on-year. The total revenue would amount to Rs 50 crore (in FY21). We are targeting Rs 100 crore gross revenue (in FY22), i.e. about 100 per cent growth since the previous financial year.
About 60 per cent of the total revenue will pertain to our online sales," Pee Safe founder and CEO Vikas Bagaria said.
He added that the online channels fetched the organisation approximately 60 per cent of the total revenue generated in FY2020-21.
Pee Safe's products, including its popular toilet seat sanitizer spray, are available pan-India in over 10,000 stores and more than 100 cities.
Apart from eyeing a USD 10 million series B fundraise, Pee Safe is looking at expanding its retail presence from the current 10,000 stores to having a more franchise-owned brand exclusive stores (FOFO) to enhance customer experience across India. Pee Safe plans to launch 50 offline stores in the 12 months ahead.
"These stores will be franchisee-owned stores operating as per the standard operating procedures established by the company. At the moment, there are three stores in Ahmedabad, Kolkata, and Bangalore. The new store openings will take place in Gurugram, Indore, Nagpur, Imphal, and other tier I and tier II cities," Bagaria said.
The new stores being introduced under the FOFO model will not affect traditional retail adversely in any manner, he added.
Asked about the fund raise plans, he said: "The amount we are looking to raise should substantiate by the end of the year, as per our current roadmap".
The company has raised a total of USD 9.5 million till date. Bagaria noted that while the company had started out with apprehensions, wherein people wondered why it had ventured into products riddled with social stigmas, Pee Safe is now a name to reckon with in the hygiene and wellness category.
"We are seeing an increased traction for our products in the sexual wellness and beauty categories under the brands Domina and Furr. We hope to bring conversations around topics such as period care, hair removal and grooming, intimate hygiene and sexual pleasure out in the mainstream," he added.
Bagaria said while Pee Safe is still very much a digital-first brand, it is moving with the times to adopt a hybrid retail model integrating online and offline sales points.
"The purpose of expansion is simple - becoming more accessible to the customers that we cater to. We have experienced an influx of customer queries regarding our offline presence in their localities/cities. As a fringe benefit, this initiative will help personalise the customer experience, drive loyalty, and additionally promote strong recall value for our customers," he said.
Talking about international expansion, Bagaria said the brand has already expanded overseas and is building local production of toilet seat sanitizers in Europe.
"At present, we are available in Germany and have plans to expand across Central and Western Europe in the coming years. At present, the revenue from international business accounts for a total of 5-7 per cent," he said.
Bagaria stated that the percentage contribution has risen from 2 per cent in the previous two years. "The company is looking to expand its presence in MENA and SEA regions, apart from the existing US and UK markets," he added.