Personal care company Juicy Chemistry recorded a revenue of Rs 19.8 crore in FY23, a drop when compared to Rs 25.16 crore in FY22. While expenses dropped to Rs 28 crore from the previously incurred Rs 32.5 crore in FY22, the company saw a rise in losses to Rs 8.17 crores as compared to Rs 7.33 crores in FY22.
The Chennai-based company spent over 30% of its total expenses incurred in FY23 on advertisement and promotional costs and close to 28% on cost of materials. The previous financial year it spent close to Rs 2 crores in advertisement and promotional costs and over Rs 9 crores in cost of materials. Juicy Chemistry witnessed over 91% of its revenue coming in from operations in FY23, mimicking the breakdown of its previous fiscal year.
Founded by Megha Desai Asher in 2014, Juicy Chemistry is a brand that provides a range of skin and hair care products consisting of cleansers, floral waters, gourmet soaps, hair masques among others. It is currently valued at Rs 190 crores.
It has raised a total of Rs 54.9 crores over 3 funding rounds. It’s latest round was raised in June 2021. The Series A round raised Rs 44.4 crores and saw the participation of Spring Marketing Capital.
While Amit Nanavati holds close to 21% of the company’s shares, Purplle and Verlinvest hold over 9%.
Juicy Chemistry compete with the likes of Delhi-based Mamaearth, Bengaluru-based Wow Skin Science, and Mumbai-based Sugar Cosmetics.