The skincare retailer is looking to enter regions like Latin America, Eastern Europe, Africa, and the Commonwealth of Independent States (CIS) countries
Bengaluru: Homegrown skincare brand Fixderma is on track to double its global footprint, aiming to grow from 35 to more than 60 countries by the end of the current fiscal year (FY), a top company official told IndiaRetailing.
“We are focusing on regions like Latin America, Eastern Europe, Africa, and the Commonwealth of Independent States (CIS) countries, where the potential is immense,” said Shaily Mehrotra, Founder and CEO of Fixderma.
“These markets are home to large populations with growing economies, creating a rising demand for skincare. Unlike saturated markets, they have fewer global players and less competition, making them prime territories for impactful growth,” she added.
In some regions, the brand operates through branded online stores and multi-market marketplaces like Amazon, Lazada, and Shopee. In others, it relies on master distributors who handle all sales channels, both online and offline.
Each market’s dynamics, including consumer behaviour, regulatory requirements, and infrastructure, guide its global strategy.
“Many of these geographies are smaller markets that benefit from open trade agreements within their regions. Once we establish a strong presence in one major market within a sub-region, it becomes easier to expand into neighbouring countries, leveraging shared logistics, market insights, and trade pacts,” Mehrotra further added.
Fixderma was founded in 2010 by Anurag Mehrotra and Shaily Mehrotra. The cosmeceutical company manufactures and sells skincare products for a variety of conditions, including acne, pigmentation, dry skin, and pregnancy-related skin issues.
In October 2021, Indian cosmetics company Lotus Herbals acquired a 32% stake in Fixderma. This was Lotus Herbals’ first acquisition in the prescription-based products and over-the-counter cosmetics space.
The Gurugram-based company currently offers over 300 stock-keeping units (SKUs), across over 13 categories.
Soon, it will launch ‘Hoopoe’, a specialised baby skincare range addressing diaper rash, eczema, and other baby skin needs.
Fixderma opened its first exclusive brand outlet (EBO) in July 2024 at Galleria Market in Gurugram. The brand plans to open 10 EBOs by the end of 2025.
“Our first EBO in Gurugram serves as an experiential centre where customers receive expert advice and personalised solutions. For 2025, we plan to strategically expand EBOs in regions with a discerning audience, focusing on areas where active skincare knowledge is growing,” said Mehrotra.
The retailer is experiencing strong traction in India’s top eight metro cities, with Tamil Nadu and Maharashtra leading the demand.
Internationally, it sees more demand from neighbouring countries like Nepal and Sri Lanka, key South Asian markets such as Vietnam, Malaysia, Cambodia, GCC nations, and established regions including the US, UK, and Canada.
In FY 2022, Fixderma recorded a revenue of Rs 65 crore, which grew by 63.8% to Rs 106 crore in FY 2023. Last year (FY 2024), the company achieved Rs 146 crore in revenue and is anticipating doubling its growth in the current fiscal year.
“We have always been PAT (profit-after-tax) positive which is non-negotiable for us. The incumbent fiscal is largely driven by new launches covering the voids in our seasonal offerings. Winter-specific products, once a small segment at just 5% of Fixderma’s skincare revenue, have now surged to account for 20% of revenue,” Mehrotra added.
