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evme INDIA

Discussion Topics for a Business Pitch

Overview of the company and its mission

The company will aim to launch evme products and related services in the Indian Market. This would be done in two folds simultaneously:

1: Distribution Channel: Establishing a distribution channel and finding the retailers and OTC region wise. The launch will be done region-wise.

Offline: ATL, BTL - Phase wise

2: Digital Media:

Online: Digital on Meta, Linkedin, Google Ads, SEO - PAN India

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Target market analysis and customer segmentation

The target market would be PAN India. The launch would be done in multiple phases dividing the country landscape in to four zones viz. North, East, West and South. Picking Delhi NCR as the first test market area with a population of over 70 million. The initial target could be to capture 0.10 percent of the overall population as the potential customers, who buys one evme product only once a year.

The customer segmentation would be of the people interested in cosmetic products specific to their skin types and solutions to their skin allergies. Also, the Dermatologist would play an important role in spreading the awareness about the goodness of the products to a specific audience/customers.

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Competitive landscape and market differentiation

The Indian market for allergy-friendly beauty products is evolving with increased consumer awareness and demand for products catering to sensitive skin types and specific allergies. Here are some insights into the competitive landscape and market differentiation for allergy beauty products in India:

Competitive Landscape:

Local Brands: Several local Indian brands are emerging, focusing on natural, hypoallergenic, and sensitive skin-friendly beauty products. These brands often use traditional ingredients like aloe vera, neem, turmeric, etc., known for their soothing properties.

International Brands: Established global brands specializing in allergy-friendly skincare have started entering the Indian market. These brands emphasize their dermatologically tested, fragrance-free, and hypoallergenic formulations to target consumers with sensitive skin.

Pharmaceutical Brands: Some pharmaceutical companies in India are also introducing skincare and beauty products formulated specifically for sensitive skin, leveraging their expertise in addressing skin-related issues.

Online Retailers: E-commerce platforms plays a significant role in making allergy-friendly beauty products accessible to Indian consumers. Both local and international brands use these platforms to reach a wider audience.

Market Differentiation Strategies:

Ingredients Transparency: Brands focusing on allergy-friendly products often emphasize transparency in their ingredient lists. Highlighting natural, gentle, and non-irritating components helps in appealing to consumers concerned about allergic reactions. Providing comprehensive information about ingredients, potential allergens, and transparent labeling helps build trust among consumers with allergies.

Dermatologist Endorsements and Certifications: Brands that obtained certifications from dermatologists or organizations emphasizing allergy testing and hypoallergenic formulations has a competitive edge. These certifications helps build trust among consumers.

Targeted Marketing: Brands tailored their marketing strategies to highlight the specific needs of consumers with allergies or sensitive skin. They used language and visuals that resonated with this audience, emphasizing the product's suitability for their skin concerns.

Product Innovation: Continuous innovation in formulations, such as developing fragrance-free, paraben-free, and alcohol-free products, helps brands stand out in the market. Some brands also incorporated advanced technologies to address specific allergy-related skin issues.

Educational Campaigns: Brands undertake educational initiatives to raise awareness about allergens in skincare and the importance of using hypoallergenic products. These campaigns aimed to educate consumers about potential irritants and how to identify suitable products for their skin type.

Distribution Channels: Establishing a strong presence both online and offline, including partnerships with pharmacies, dermatologists' clinics, and beauty stores, helps brands widen their reach and accessibility.

Ingredients and Formulation: Emphasizing the use of hypoallergenic, non-comedogenic, fragrance-free, and dermatologically tested ingredients helps differentiate products in this market.

Clinically Proven or Recommended: Brands that have undergone rigorous clinical testing or are recommended by dermatologists can leverage this credibility to stand out.

Customization and Personalization: Offering customizable products or tailored solutions for specific allergies or skin sensitivities can be a unique selling point.

Packaging and Eco-Friendly Focus: Using recyclable or eco-friendly packaging can resonate with consumers who are conscious of environmental impact while also dealing with allergies.

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Business model and revenue streams

The business model for allergy-friendly beauty products in India encompasses various strategies to cater to the needs of consumers with sensitive skin or specific allergies. Here's an overview of the business model and potential revenue streams:

Business Model:

Product Development: Emphasize research and development to create skincare and beauty products that are hypoallergenic, fragrance-free, and gentle on sensitive skin. This may involve collaboration with dermatologists, utilizing natural ingredients, and formulating products without common allergens.

Market Segmentation: Identify and target specific segments within the beauty and skincare market in India that seek allergy-friendly products. This includes individuals with sensitive skin, allergies to certain chemicals or fragrances, or those seeking gentler formulations.

Brand Positioning: Establish the brand as a trustworthy and reliable source for allergy-friendly beauty products. Emphasize transparency, safety, and effectiveness through marketing campaigns, certifications, and endorsements from dermatologists or relevant organizations.

Distribution Channels: Utilize both online and offline distribution channels. E-commerce platforms, partnerships with pharmacies, beauty stores, dermatologists' clinics, and specialty skincare outlets can expand the brand's reach.

Customer Education: Conduct educational campaigns and provide resources to educate consumers about allergens in skincare, how to identify suitable products, and the importance of hypoallergenic formulations.

Continuous Innovation: Invest in ongoing research and development to introduce new products or improved formulations that cater to evolving consumer preferences and emerging skincare concerns.

Revenue Streams:

Product Sales: The primary revenue stream comes from selling allergy-friendly skincare and beauty products. Revenue is generated through direct sales on the brand's website, e-commerce platforms, retail stores, and through partnerships with distributors.

Subscription Models: Offer subscription services where customers can receive regular deliveries of their favorite allergy-friendly products, ensuring recurring revenue.

Partnerships and Collaborations: Collaborate with dermatologists, spas, salons, and healthcare professionals to offer specialized services or exclusive product lines, generating additional revenue streams through partnerships and co-branding.

Licensing and Distribution Agreements: Explore opportunities to license the brand or enter distribution agreements with other companies or international brands to expand product reach and generate licensing or distribution fees.

Consultation Services: Offer skin consultation services to consumers seeking advice on skincare routines and product recommendations for sensitive skin or allergies, charging fees for personalized consultations.

Branded Merchandise and Accessories: Diversify revenue by selling branded merchandise, accessories, or complementary skincare tools that align with the brand's ethos and target audience.

Training and Workshops: Conduct workshops, seminars, or training sessions for skincare professionals, generating revenue through registration fees or consultancy charges.

The success of these revenue streams would depend on the brand's ability to create high-quality, differentiated products, build a loyal customer base, and effectively market its offerings to the target audience seeking allergy-friendly beauty solutions in India.

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Marketing and advertising strategies

Marketing and Branding Strategies:

Targeted Advertising: Focusing on platforms where allergy-prone consumers are active and using targeted advertising to reach this specific audience.

User Reviews and Testimonials: Leveraging positive user experiences and testimonials from individuals with allergies can help build trust.

Partnerships and Alliances: Collaborating with allergy-related organizations, dermatologists, or influencers in the health and wellness space can help in marketing and product promotion.

Innovation:

Continual Research and Development: Investing in R&D for new, gentle, and effective formulations that cater to allergies or sensitivities.

Technology Integration: Utilizing technology such as AI for personalized skincare recommendations based on an individual’s allergies or sensitivities.

Regulatory Compliance and Certifications:

Obtaining certifications or labels indicating products are free from certain allergens or have passed specific allergy-related tests can provide a competitive edge.

To excel in the market for allergy-friendly beauty products, a brand needs to combine effective product development, robust marketing strategies targeting the specific needs of allergy-prone consumers, and a commitment to transparency and education about ingredients and formulations.

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Financial projections and funding needs

Creating financial projections and determining funding needs for launching or expanding allergy-friendly beauty products in India involves detailed analysis and planning. Here's a structured approach:

Financial Projections:

Sales Forecasts: Estimate sales projections based on market research, including the size of the target market, consumer preferences, competitive analysis, and anticipated market share. Consider factors like seasonality, product launches, and marketing efforts.

Cost of Goods Sold (COGS): Calculate the cost of manufacturing or sourcing products, including raw materials, packaging, manufacturing expenses, and any import/export costs. Determine the gross margin by subtracting COGS from the projected sales.

Operating Expenses: Include all operational costs such as marketing, sales, salaries, rent, utilities, research, development, distribution, and administrative expenses. These should be forecasted based on the business's operational plans and expected growth trajectory.

Capital Expenditures: Account for one-time expenses such as equipment purchases, technology investments, or infrastructure development needed for production and expansion.

Cash Flow Projections: Develop cash flow statements projecting the inflows and outflows of cash over a specified period. This includes anticipated revenues, expenses, investments, loans, and any other financial activities.

Profit & Loss Statement (P&L): Create a detailed P&L statement that summarizes revenues, costs, and expenses to determine the projected net income or loss for each period.

Funding Needs:

Start-up Costs: Estimate the initial capital required to launch the business, including product development, manufacturing setup, regulatory compliance, branding, marketing, and initial inventory. This can also include costs for setting up an online store or distribution channels.

Working Capital: Assess the funds necessary to cover ongoing operational expenses until the business becomes self-sustainable. This includes inventory costs, marketing campaigns, salaries, utilities, and rent.

Expansion Plans: Determine the funding needed for scaling the business, entering new markets, expanding product lines, or investing in research and development for new formulations or technologies.

Contingency Funds: Allocate funds for unforeseen expenses or to buffer against fluctuations in sales, production delays, regulatory changes, or unexpected market conditions.

The financial projections and funding needs are subject to change based on market dynamics, business strategies, and unexpected challenges. It's crucial to regularly revisit and adjust these projections as the business progresses and market conditions evolve. Additionally, seeking advice from financial advisors or consultants specialized in the beauty industry in India can provide valuable insights and guidance.

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Team and organizational structure

Creating a robust team and organizational structure is essential for the success of any business. Here's a proposed outline for the team and organizational structure:

Team Structure:

CEO evme India: Responsible for overall strategy, vision, and leadership of the company. Oversees major decisions, sets goals, and drives the business forward.

Product Development Team: Handled by evme Parent company in USA

Sales and Marketing Team in evme India:

Chief Marketing Officer (CMO): Develops marketing strategies, branding, and customer acquisition plans.

Sales Managers/Representatives: Responsible for distribution, partnerships, and sales channels.

Digital Marketing Specialists: Manage online presence, social media, and digital advertising campaigns.

Customer Support:

Customer Service Representatives: Handle inquiries, complaints, and provide support to consumers regarding product usage and inquiries related to allergies or sensitivities.

Operations and Supply Chain:

Operations Manager: Oversees day-to-day operations, including production, inventory management, and logistics.

Supply Chain Managers: Responsible for sourcing raw materials, managing suppliers, and maintaining inventory levels.

Quality Assurance/Regulatory Compliance:

Quality Control Managers: Ensure products meet quality standards and regulatory compliance for allergy-friendly claims.

Regulatory Affairs Specialists: Responsible for navigating regulatory requirements and obtaining necessary certifications.

Finance and Administration:

Chief Financial Officer (CFO): Manages finances, budgeting, financial planning, and reporting.

Accountants/Administrative Staff: Handle accounting, payroll, administrative tasks, and office management.

Organizational Structure:

Flat Structure: Maintain a relatively flat organizational structure to encourage collaboration and efficient communication among team members.

Cross-functional Teams: Encourage collaboration between different departments to facilitate innovation, problem-solving, and product development.

Advisory Board/Consultants: Engage industry experts, dermatologists, allergists, and advisors to provide specialized knowledge and guidance.

Organizational Culture:

Customer-Centric Approach: Foster a culture focused on understanding and meeting customer needs, especially those with allergies or sensitive skin.

Innovation and Research: Encourage a culture of innovation, continuous improvement, and a commitment to research for developing cutting-edge allergy-friendly products.

Transparency and Ethical Practices: Emphasize transparency in product ingredients, manufacturing processes, and ethical business practices to build trust among consumers.

Considerations:

Training and Development: Invest in ongoing training programs to enhance employee skills, especially regarding allergy-related concerns and product knowledge.

Diversity and Inclusivity: Foster a diverse and inclusive work environment to encourage creativity, different perspectives, and inclusivity in product development and marketing strategies.

Adapting and evolving the team and organizational structure according to the company's growth, market feedback, and industry changes is crucial for the long-term success of allergy-friendly beauty products in India. Adjustments may be necessary as the business expands and new challenges or opportunities arise.

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Potential challenges and risks

Launching and sustaining an allergy beauty products business in India may encounter several challenges and risks, despite the growing demand for such products. Some of these challenges include:

Regulatory Compliance and Standards:

Compliance with Regulations: Meeting stringent regulatory requirements for cosmetics, including allergen labeling, safety assessments, and adherence to specific standards, can be challenging and time-consuming.

Changing Regulations: Keeping up with evolving regulatory changes in India's cosmetic industry and ensuring continuous compliance with updated standards and guidelines.

Product Development and Innovation:

Formulation Challenges: Developing effective allergy-friendly formulations that cater to diverse skin types and allergies while maintaining product efficacy and appeal to consumers.

R&D Costs: High research and development costs associated with creating innovative, hypoallergenic products that are both safe and effective for consumers with sensitive skin or allergies.

Consumer Education and Awareness:

Educating Consumers: Addressing misconceptions about allergy-friendly products, raising awareness about allergens in skincare, and educating consumers about the benefits and proper usage of hypoallergenic products.

Market Perception: Overcoming skepticism or doubts among consumers regarding the effectiveness of allergy-friendly beauty products compared to traditional skincare solutions.

Competition and Market Dynamics:

Competitive Landscape: Facing competition from established brands, both local and international, already offering allergy-friendly skincare solutions in India's rapidly growing beauty market.

Price Sensitivity: Balancing the need to offer high-quality, specialized products with competitive pricing to attract price-conscious consumers.

Supply Chain and Manufacturing:

Product Sourcing: Ensuring adequate production basis demands in Indian market. Maintaining sufficient stocks of all range of products in India warehouse to ensure that there is no issue in supply chain. Taking in account the demand for both markets viz. Offline and Online.

Marketing and Consumer Trust:

Building Trust: Establishing credibility and trust among consumers by proving the efficacy and safety of allergy-friendly products through certifications, dermatologist endorsements, and transparent labeling.

Marketing Challenges: Effectively communicating the benefits of allergy-friendly products without making exaggerated claims or misleading marketing that could damage brand reputation.

Economic and Market Risks:

Market Volatility: Fluctuations in consumer preferences, economic conditions, or shifts in market trends that could impact demand for allergy-friendly beauty products.

Pricing and Cost Management: Managing costs effectively while maintaining product quality in response to fluctuations in raw material prices, inflation, or currency exchange rates.

Addressing these challenges involves thorough market research, strategic planning, continuous innovation, and a customer-centric approach. Implementing robust quality control measures, fostering consumer trust, and adapting to the evolving regulatory landscape are crucial for the sustained success of an allergy beauty products business in India.

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