Premium ayurveda brand Forest Essentials is planning to add nine more exclusive stores this year to its already existing seven outlets. The company has not been able to reach its target of having 40 stores by end 2010 due to the economic slowdown. “Various malls, where we planned to open, got delayed or shelved altogether,” said Samarth Bedi, executive director, Forest Essentials. After Delhi and Mumbai, the company is now going to enter cities such as Chandigarh, Ludhiana, Bangalore, Kolkata and Goa among others. The company hopes to achieve a store count of 40 by 2011. Last year, luxury brand Estée Lauder had picked up a minority stake in the company providing it access to the global network and practices of Estée Lauder. The company has moved its focus on developing its supply chain and towards corporate social responsibility (CSR) now. The international brand has got on board Estée Lauder’s CSR adviser David Hircock to help figure out ways of avoiding wastage to make products in an environment-friendly manner that meets global standards. Estée Lauder is visiting the manufacturing units of Forest Essentials in Rishikesh and Haridwar to review the facilities. With its association with Estée Lauder, Forest Essentials does have a chance to use the brand’s international network. However, the company does not plan to make that foray yet. “India is a very lucrative market to tap into and there is a lot of scope for expanding business here. In addition, Estée Lauder has advised us that the international market is too mature for us presently,” Bedi added. Meanwhile the company is focusing on increasing its product portfolio and the at the same time repackaging its products to ensure better quality and global standards. “It is not that we are going for a revamp but we are making sure that the packaging is of better quality, while the design remains the same,” he said. The company is also exploring the shop-in-shop option with retail chain such as Shoppers Stop. Forest Essentials positions itself as a luxury ayurveda brand and wants to be the first international brand to be in this segment from India in a few years. The company largely supplies to hotel chains and spas. About 60 per cent of its revenue comes from this segment. The company, however, sees growth in retail and not in hospitality. “In a few years, we want to increase the share of retail business to account for 70 per cent of our overall revenue,” Bedi said.
