How did Deepika Padukone’s self care brand 82 East reach the INR 100 Crore ARR Mark?
Deepika Padukone’s self-care brand 82 East has successfully completed its first year, boasting a customer repeat rate of 60% and a Net Promoter Score of 65.
Deepika and her fund manager, Jigar Shah, share insights about their journey, future plans and the challenges they faced.
“I was that person who wanted beautiful glowing skin but at the same time wanted it to be simple yet effective.” – Deepika Padukone
Achieving ambitious targets
Despite challenges, building 82 East from the ground up has been a rewarding experience for the co-founders.
They have successfully achieved their ambitious target of reaching a 100 crore annual revenue run rate.
Investment considerations and future plans
While currently focused on 82 East, the co-founders are open to investing in other startups if interesting opportunities arise.
They prioritize alignment with their personal beliefs, connection with the founders’ vision, and business potential when considering investments.
Co-founders’ synergy
Deepika Padukone and Jigar Shah, as co-founders, complement each other’s strengths, participate in each other’s meetings, and make informed decisions together, fostering a synergistic working relationship.
Funding and future growth
82 East plans to raise more funding in the near term, with a series A round targeted for 2024.
This funding will help fuel their expansion plans and further solidify their position in the self-care market.
Brand Deepika as an emotion
Deepika Padukone views her brand as an emotion rather than a set of adjectives.
Every endeavor she undertakes, including 82 East, is an extension of her personality and beliefs.
“Year one for us has been just about validating some of our hypothesis…and we have enough and more evidence.” – Jigar Shah
Global ambitions
Despite being rooted in India, 82 East has global ambitions.
The brand’s ability to ship to 115 countries showcases its global reach and plans for further expansion.
Learning from challenges
Building 82 East has presented numerous challenges, but these have been valuable learning experiences for the co-founders.
They have used these challenges to refine their approach and strengthen their brand.
Emphasizing quality
82 East prioritizes quality, creating effective products without compromising on ingredients.
This commitment to quality has been a key factor in the brand’s success and customer loyalty.
