Incnut Lifestyle Founder Believes, "Prioritising Customer Needs Plays Pivotal Role"
Incnut Lifestyle Retail is a cosmetic enterprise with an annual revenue of Rs 50 crore, admired by customers for its hyper-personalisation. The venture was inspired by the observations and customer insights of the company’s media offshoot, a personal care and wellness website. These insights have prompted the company to venture into customisable cosmetics.
Incnut LifeStyle, led by its Co-founder and CMO, Sangram Simha Datla, has two cosmetic brands, namely Skinkraft and Vedix, focussed on dermatological and Ayurvedic formulas. SkinKraft is a customisable cosmetic brand based on dermatology while Vedix is a customisable cosmetics brand, based on Ayurvedic principles.
The cosmetic sector has been witnessing five major trends over the past three years, customisation, informed customers, service orientation, rising traction from tier-2 and tier-3 cities and global embracement of Ayurveda. Datla believes that in order to build successful businesses in this space, prioritising customer needs play a pivotal role. He believes in catering to customer preferences and securing feedback from them to sustain the loyalty of existing users and attracting new clients.
Datla believes that this approach leads to better product development, improved customer satisfaction and builds credible brand reputation. His strategies have helped Incnut Lifestyle to sail through a highly challenging and competitive market. His primary focus is on customisation, product differentiation and a robust business model. These strategies have kept Incnut brands relevant in a dynamic market. Datla acknowledges the challenges that cosmetics brands face and has invested significantly in customer education, which in turn leads to word-of-mouth marketing, customer retention and helps customers make informed choices.
Datla strives to grow the current 33 per cent of Incnut Lifestyle’s global sales to more than 50 per cent, to be able to reach a targeted revenue of Rs 300 crore. He intends to do this by optimising marketing and operations to its full potential. He also plans to introduce more exclusive brand outlets (EBO) for offline expansion as well as other offline retail formats in 2024.
Datla envisions India as a global leader in innovation and entrepreneurship. He believes India’s distinct blend of cultural diversity, technological advancement and entrepreneurial spirit positions it perfectly for this role. He reiterates that growing disposable income, digital and physical infrastructure as well as informed customers, have significantly contributed to India’s impressive growth story.
