India’s homegrown consumer startup Vandelay expands operations in the international market; eyes revenue of INR125crby FY 2023
Delhi : India’s homegrown consumer startup Vandelay, after successfully setting up its market in India, has now expanded its operations in Europe, including in the UK, Germany, Italy, Spain and France. In the past one year, the company served 450,000 families by fulfilling an average of 1369 orders a day in India and has already grabbed the international market with over 6000 orders a month from these markets. The company aims to attract a revenue of INR125crfrom the international markets by the end of FY 2023.
With successful penetration of the European market, the brand also plans on expanding its operations in the US in the coming months. Speaking on the expansion plans for the startup,KunalSaha, Director and Co-founder, Vandelay said, “Currently 10% of the company’s revenue is generated from the international markets including Europe and the US, and taking this as an opportunity, we have developed our operations in these regions to further the growth of the brand. India will remain our primary market and as we expand the idea is to grow our team in strength to support this expansion plan. We have ventured into the international market with initial massager launches and we will focus on other product types in the coming days. We aim to get revenue of INR125crby the next financial year.”
In the past one year, Vandelay has witnessed dynamic growth and is already on track to increase its gross revenue sales to more than INR 70 Crore in FY 21-22. The company has also ventured into the Indian healthcare sector and has its expertise in leveraging the digital market space to provide customers with premium products ranging from consumer-grade medical devices and equipment for management of diseases, including COVID-19, to nutraceuticals, home diagnostics and mother-and-baby products.
Vandelay is on a robust growth trajectory and is focused on a 100 percent growth in the current year by using its hybrid business model (D2C-cum-e-commerce). The company collaborates with small and medium-sized enterprises (MSMEs), using the asset lite model to manufacture products to its designs, specifications and standards and thus monitors the process from production to QC and pre-shipment inspection. Every product launched by Vandelay is certified by international and domestic regulatory bodies, based on the requirements. Established in June 2020, the brand has grown at an incredible pace owing to its unique concept and has been able to fulfill about 300,000 orders as on date in FY 2021-22.