Dermabay is revolutionizing India’s skincare market with its quality-first approach and science-backed products, aiming for significant growth by FY27.
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Introducing Dermabay: A New Player in Indian Skincare
In recent years, the Indian skincare market has witnessed an explosion of direct-to-consumer (D2C) brands. Yet, one company is stepping up with a unique approach—Dermabay. Co-founded by seasoned professionals in the pharmaceutical industry, Divneet Kaur and Simran Kaur, Dermabay aims to fill the gap left by many brands that merely repackage existing products. Launched in late 2022, Dermabay places a heavy emphasis on scientific innovation, setting it apart in a crowded marketplace.
A Quality-First Approach
Headquartered in Ludhiana, Dermabay houses a dedicated research and development (R&D) team led by Divneet. Unlike many brands that outsource their entire production, Dermabay conducts extensive R&D in-house. The company started with a basic setup, turning a garage into a lab, allowing them to retain intellectual property (IP) and develop cutting-edge formulations.
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Bootstrapping for Success
Despite limited resources, Dermabay’s commitment to quality has propelled it forward. The team closely collaborates with contract manufacturers in Ludhiana and Una, ensuring that their products meet high-quality standards. Their initial offerings range from affordable cleansers starting at Rs 449 to premium anti-aging serums priced at Rs 1,195, with the flagship Sunscreen SPF 50 PA++++ retailing for Rs 699.
Distribution and Growth Strategy
Dermabay has been quick to establish its online presence, selling through its website and major platforms like Amazon, Flipkart, 1MG, and Nykaa. With ambitions to expand into the physical retail space, Dermabay plans to launch stores in Gujarat, Uttar Pradesh, and Madhya Pradesh within the next year. Remarkably, the brand has gained 50,000 customers in under four months, boasting a retention rate of 85-90% and aiming for a robust customer base of 1 million by FY27.
Marketing Challenges and Opportunities
The D2C skincare sector in India is fiercely competitive, and Dermabay faces significant marketing challenges, particularly regarding advertising costs. COO Simran Kaur recognizes this hurdle and states that collaboration with influencers who focus on educating consumers about skincare can be beneficial for brand visibility. With the right partners, they hope to broaden their reach and engage with more customers.
Bridging the Knowledge Gap
One of Dermabay’s key objectives is to educate consumers about skincare science. Many people lack a clear understanding of how different ingredients can work together for specific skin concerns. To address this, Dermabay is implementing AI tools on its website, allowing customers to take quizzes to find suitable products for their individual skincare issues.
Funding and Future Aspirations
The Indian skincare market is projected to expand from $8.4 billion in 2024 to nearly $17 billion by 2033, and Dermabay aims to secure a significant portion of this growth. Currently holding a mere 0.039% market share, the brand has ambitious plans to increase its presence to at least 0.5-1% within two years. With an initial investment of Rs 1 crore and its projected revenue growth—from Rs 1.3 crore in FY24 to Rs 3.5 crore in FY25—the company aims to cross Rs 13 crore in the current fiscal year by securing a pre-seed funding round of Rs 10 crore.
Investing in Sustainable R&D
Once funding is secured, Dermabay plans to enhance its R&D capabilities by building a more advanced laboratory, aligning with its mission of sustainability and innovation in product development. The startup positions itself against competitors like Kama Ayurveda, Forest Essentials, and Plum, focused on carving out a unique niche for itself.
Conclusion
Dermabay is pioneering a transformative approach in the Indian skincare industry by prioritizing quality and science over mere commerce. With plans for significant expansion and an unyielding commitment to consumer education, Dermabay is poised to become a household name in skincare. As the brand continues to innovate, it invites consumers to join them on their journey towards a scientifically-informed skincare routine.
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