People across age groups are now paying attention to their nutritional needs as well as environmental footprint, says Rishubh Satiya, Co-Founder of Plix. He said Plix’s products find resonance with the target audience, and within a short span of time, Plix has crossed INR 100 crore in ARR.
In an interaction with MyBigPlunge, Rishubh Satiya gives an insight into his company and how it has grown amid the COVID-19 pandemic:
How were the past two years – 2020 and 2021 for Plix? Did the pandemic affect business?
Plix was launched in 2019, and the pandemic started right in the very first year of our operations. However, after the initial supply chain disruptions in 2020, we have constantly done well. Our products find resonance with the target audience, and within a short span of time, Plix has crossed INR 100 crore in ARR. We are now well-positioned to grow it 5x and cross the INR 500 crore ARR mark by 2024. The pandemic has only brought about greater awareness about clean, plant-based nutritional products and we have made a great impact on the market. In the last two years, we have launched a vast range of products catering to needs such as weight loss, hair and skin nutrition, daily wellness, women’s health, and workout supplements. So, this has been a time of good traction for Plix.
Has the supplements market transformed in the last decade?
The market has definitely grown strongly over the last decade, especially in India. There are various factors that propelled the market forward such as the growing awareness and desire for a healthier lifestyle. The millennials and Gen Z are earning better and are more conscious of their wellness. The focus is now more on building lean muscular bodies, having stamina, and wellness has become a key consideration.
Do you think the COVID-19 pandemic has prompted people to consume plant-based nutrient supplements over chemical-based ones?
The pandemic has made people take note of their general wellness including their food habits and lifestyles. There is a general attempt to make changes to dietary habits and environmental consciousness. People want to eat foods that are sustainable for the environment and their own health and are absolutely safe for consumption. This is where plant-based foods have gained attention. Apart from ensuring holistic health and well-being, they also contribute to a reduction in global warming and other issues. There are no chemicals or artificial ingredients involved in products made by brands like Plix. Hence, there is a transition in the making.
Has the demand for nutrients and supplements increased? In what age group and what about gender?
With lifestyles and work practices becoming more home-centric and digital, there is a need to undertake physical exercise and home workouts. People across age groups are now paying attention to their nutritional needs as well as their environmental footprint. The transition is gender-neutral but we are also seeing a lot of women focus on workouts, gaining physical strength, flexibility and stamina. The biggest demand is from the millennial and Gen Z customers, as they form the majority of the demographics, but overall the change can be noticed in every segment.
Do you have plans to expand the business?
We have so far raised $5 million in Series A funding from Guild Capital and RPSG, and our ARR has crossed the rupees 100 crore mark. Now, our aim is to use the funds raised to launch new innovative products in the nutraceuticals segment and expand our product portfolio to over 85+ SKUs alongside touching INR 500 crore in ARR by 2024. Launch new innovative products not just in nutraceuticals but also extend into functional foods (nuts, butter, health bars, etc) and clean skincare. We are building a strong R&D team, hiring new talent across functions and will soon enter global markets to expand our mission of providing access to plant-based clean nutrition to people in all major countries.
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What is your outlook for 2022?
2022 is going to be a strong year for business growth in most verticals. We see a lot of opportunities in our segment, physical fitness and wellness are not niche anymore as they have evolved into a mass market. With focus on sustainable lifestyles and dietary changes, plant-based foods and dietary supplements are bound to appeal to the global audiences especially now when the myth about lack of proteins and nutrients in green foods is being eliminated by fact-based awareness about these food products. Last but not the least, brands like Plix are offering plant-based nutrients in consumable and fun forms like effervescent, yummy gummies and tasty powders.
Plix Life is one of India’s leading D2C Plant-based tech startups in India. Plix is a fast-growing clean plant-based nutrition brand for holistic wellness and healthy lifestyle, founded in March 2019. It aims to provide a cleaner form of nutrition that is superbly tasty, convenient to use and easily accessible to a wider segment of society.
