Right after Two years, 25 million client visits per month and one continuous query: “Will this product suit me?”, Vedix can say a confident ‘yes’. Vedix, which calls itself the “world’s first customised Ayurvedic personal care brand that leverages modern technology (Artificial Intelligence and analytics) to deliver all the goodness and benefit of Ayurveda,” was set up in 2018 to support females caught in a fruitless cycle of experimentation with generic private care formulations offered in the industry.
As Jatin Gujrati, business enterprise head at this contemporary ayurveda beauty brand claims, Vedix’s solutions are made for every individual’s prakruthi and desires. “These attributes are assessed with the help of a detailed questionnaire and we leverage technology to arrive at the best suited product suggestions for the customer. This holistic assessment blends traditional Ayurvedic formulations with a modern customised approach to match each individual’s requirements with a unique set of personal care products for skin, hair, and immunity,” says Gujrati, who has more than 12 years of encounter in finance and operations approach roles across startups and huge enterprises.
Gujrati says that because the launch of the Vedix Personalised Questionnaire (VPQ), more than 3 million one of a kind buyers have filled it up to have an understanding of their prakruthi imbalances and get solution suggestions that are one of a kind to them. “We have served more than a million orders since the launch and continue to add more than 50,000 new customers every month,” he says.
In an business that sees much less than 30% repeat buyers, more than 60% of Vedix buyers are repeat buyers, says Gujrati . “This is a big testament to the power of customisation and to the positive change customers see after using Vedix products. More than 90% of our customers take one of the subscriptions option and very few opt for a single time purchase,” he says.
In addition to customising solutions based on the VPQ, Vedix also has a tech- driven feedback loop that aids the organization increase its suggestions. “After 7-10 days of purchasing a regimen, customers get a follow-up link where they give initial feedback about the product that helps us understand if they selected the right product in the first place. At the time of renewal, customers are asked a more detailed set of questions regarding product efficacy. These data points feed into an AI engine that further improves our matching algorithm and helps in the product development cycle,” informs Gujrati.
According to the Vedix business enterprise head, 2021 began with the launch of a variety of haircare solutions particularly formulated for guys. “Looking ahead into 2021 and beyond, we plan to launch a range of products in new categories and also expand the range in the categories we are already present in. We will soon be launching a range of face oils, leave-in hair conditioners, face masks, etc. We will also be expanding our sales channels by launching the entire Vedix range on platforms such as Amazon, Nykaa, Purplle, etc. ,and expand in international markets through platforms such as Amazon, Souk, Noon, Sephora, etc., and also through our own website,” he adds.
Vedix founders’ vision is to revolutionise the beauty solutions sector with customised solutions for haircare, skincare, and wellness for guys and females with the support of technologies and Ayurveda. They have been supported in this quest with a seed round of Rs 50 lakh from Venture East in 2013, which was later bought by Japanese conglomerate Istyle in 2018, and have raised $4 million from RPSG Ventures by way of series A round of funding in July 2020.
The funds are becoming utilised to strengthen and expand the study and improvement (R&D) labs, all round infrastructure, and artificial intelligence (AI) driven information technologies, says Gujrati. Currently, the annual recurring income of Vedix is Rs one hundred crore, which is anticipated to develop to Rs 500 crore by 2025. “The ambition is also to take the brand global by diversifying the portfolio and launching products tailored to the environment and consumer needs of each market,” says Gujrati.