Kimirica Plans to Fund 60 crore To Expands its Manufacturing Capacity

Mohit Jain, co-founder and CEO of personal care brand Kimirica, added that the company plans to invest Rs 60 crore to increase its manufacturing capacity by approximately 8 lakh square feet. The brand already has a manufacturing facility in Indore that covers 3 lakh square feet and produces all of its products in-house.

"We are working on a strategic partnership opportunity, however, we already have a Canadian partner, Hunter for the hospitality business and Imagine Marketing for the retail business on board. And because again it's a big phase of expansion, we always feel that the partner can help not only with funds for expansion but also they bring expertise on the table and the growth becomes faster," he stated.

Without sharing further subtleties, he said that both the arrangements were for twofold digit stake possession in the organization. The brand, which offers 2,500-3,000 SKUs for the neighborliness area and 250 SKUs for the retail area, has a group of 15 in-house researchers for Research and development.

"This year, we will be adding 500 SKUs in the hospitality sector and 65-70 SKUs for the retail sector," he said.

The brand is present in four categories, three of which are vertical and one of which is linear. In July, it is planning to introduce a another classification of veggie lover scents by introducing 7 fragrances.

"So, we are doing bath and body, skincare, and home (candles and diffusers) in the vertical category, and in the linear category, we have gifting. Currently, 35 per cent of the brand's retail business revenue comes from gifting," he asserted.