In 2012, Arvind Sokke, Ashwin Sokke, Manish Chowdhary, and Karan Chowdhary had a retail business in the laptop and electronic sector which gave them a loss of $1 million, the main reason behind the loss was unsold inventories and the rise of discounts offered by other e-commerce businesses. This was the time when the founders turned their misfortune on its head and their obstacles became the way.
Wow Skin Science Beginning
In 2014, with a vision of making something big in the skincare and cosmetic industry, four friends decided to focus on the health and beauty sector and invested all their savings in their new startup Fit&Glow. Fast Forward to 2019, after being recognized as Global Darlingsof Amazon, Fit&Glow became a Rs 350 crore business, out of which Wow is a national and global hit.
WOW Business Model
- Wow runs on Customer-First-Strategy.
- The main aim of the founders was to build Wow Brand with new innovative formulations and for that, they spent a lot of time understanding the needs and preferences of the customers. After collecting the data a set of systems/plans were made to be executed.
- The main reason behind the tremendous growth of the Wow brand in India is the availability of products at an affordable price.
- Rather than using traditional branding methods, Wow decided to use the power of social media, they used Youtube and Instagram for social media marketing and started promoting their brand’s science-backed, natural products.
- Wow also decided to expand offline in modern outlets, supermarkets, and pharmacies all over the country, and presently it is available in 1,600 stores across India.
- Since Wow is a D2C (Direct to Consumer) brand, it has in-house product research and certificate process.
Also read : Top 3 Shocking Stock Market Scams in India
Wow Skin Science Competitors
- Glow & Lovely
- Head & Shoulders
- Baby Vision
Finance And Funding
- Fit&Glow is a Rs 350 crore business.
- Online demand for Wow products propelled its sales to $1 million per month. Due to this the whole game for the company changed in 2016.
- Since Fit&Glow is a Bootstrapped startup, all the founders funnel all their savings into the business.
Visit : Wow skin science