How these startups fetch good profits via out of BOX beauty treats
After packing yummy gourmet meals, jewelleries, corporate gifts, chocolates and blazers into a monthly subscription box, it’s time to release some iconic beauty products in the box. Thinking the same, scores of startups are jolting for a share in the much profitable beauty boxes offering daily necessities in one go.
Unravel the lucrative business opportunities waiting to unbox!
1. MSM Box
Delhi-based World One Retail Pvt Ltd have sealed a 3 month, 6 month and annual subscription of beauty, cosmetics and other personal care products in a box and named it MSM Box. The discovery ecommerce platform was founded by Bindu Sharma in 2014, to open opportunity to try, buy and enjoy their favourite beauty brands packed in a box to the consumers. The user can choose to subscribe for any of the 3 boxes; MSM Express Box, MSM Select Box and MSM Bulldawg for Men, moderately priced between Rs 416 and Rs1,495.
"This is a largely untapped segment and we plan to focus our efforts towards reaching a wider customer base and to scale up operations. Another key area for us is to further enhance our existing digital content," said Bindu Sharma, Managing Director and Co-founder, MSM Box.
The brand raised an undisclosed amount of funding from angel investor Rohit Goel who has backed close to 10 online startups so far.
2. My Envy Box
Redefining the retail process by offering consumers a unique and personalised way to discover, learn and shop for the best beauty and grooming products, My Envy Box was launched in August 2013 by Delhi-based entrepreneur Rishi Seth with French business woman Julie Rousselet.
"The beauty and wellness sector in India is still nascent and growth is inevitable.The market is wide open for innovative products and services both online as well as brick & mortar,” noted Rishi Seth, Co-Founder, My Envy Box.
Majorly dealing in 2 categories - beauty products and jewellery, My Envy Box has a generous loyalty program that rewards you every time you shop, refer friends, and give feedback on your monthly samples. One can redeem the Envy Points and save on all orders on the online boutique.
This online subscription service for expert selected beauty products eliminates the hassle of choosing between brands and beauty products. The user will receive the best skin care, hair care and make-up products that are carefully selected by beauty experts. The bootrapped venture was brainstormed by Jyoti Rani (Co-founder & CEO) and Himanshu Pathak (Founder & COO) in March 2016. While the official launch happened in June.
“Our USP is expert guided customised box offering full size products. The consumers can save upto 30 per cent on the beauty products worth Rs 1,200 packed in the box. We have 3, 6 and 12 month subscription packs available with special discount of 6 per cent on 3-month subscription, 13 per cent on 6 months and 25 per cent on yearly subscription,” shared Pathak.
The startup is in conversation with Indian Angel Network and R Ventures and is expected to raise their first round of funding.
Significantly, the experts suggest that the segment is expected to grow 25 per cent this year alone, crossing a $18.3 billion mark by 2016.