In a remarkable journey that began during the challenging times of the COVID-19 pandemic, Pilgrim, a direct-to-consumer (D2C) beauty and personal care brand, has just completed a successful funding round, raising an impressive $20 million. Founded by Anurag Kedia and Gagandeep Makker in 2019, the Mumbai-based startup has quickly made its mark in the highly competitive beauty industry.
The driving force behind Pilgrim’s inception was a simple yet powerful observation by its founders. They noticed a trend among friends and family, avidly collecting international beauty products during their overseas travels. Realizing the demand for high-quality global beauty ingredients in India, Kedia and Makker embarked on a mission to bring these products directly to Indian consumers.
Pilgrim is committed to sourcing ingredients from their country of origin, a novel concept in the Indian market. This unique selling proposition (USP) has allowed the brand to curate diverse products infused with ingredients from France, Korea, Spain, Australia, the Amazon Rainforest, and the Swiss glaciers. The goal was to offer these premium products at affordable prices, a mission they have successfully achieved.
One of Pilgrim’s standout innovations is its introduction of lip peel roll-ons, showcasing its dedication to pushing boundaries in the beauty and personal care sector. Despite the high costs of sourcing these exotic raw materials, the startup has made them accessible to consumers without breaking the bank.
Pilgrim began as a digital-first brand, gaining traction in the online marketplace. However, the company is now setting its sights on expanding its offline presence. Currently, 8% of Pilgrim’s sales come from physical retail channels, while most stem from online marketplaces and their website. August of this year saw the startup achieving an impressive revenue of Rs26 crore, with an annual recurring income (ARR) of Rs300 crore. Pilgrim aims to scale its ARR to a staggering Rs1,000 crore by 2025. To date, Pilgrim has raised a total of Rs48 crore in funding.
With over 90 stock-keeping units (SKUs) spanning face care, haircare, skincare products, and fragrances, Pilgrim caters to customers in over 25,000 pin codes across India. Notably, the brand takes pride in offering products that are not only effective but also clean and vegan, free from harmful substances like parabens, sulfates, and mineral oils.
India’s beauty and personal care market is poised for exponential growth, projected to reach $30 billion by 2027, accounting for 5 per cent of the global market. However, it’s worth noting that on a per capita basis, India’s spending on beauty and personal care is significantly lower compared to countries like the US and China. This suggests immense untapped potential in the Indian market, which increasingly turns to online commerce. By 2027, online sales in the sector are expected to reach $10 billion, representing 33% of the total market.
Kanika Mayar, a partner at Vertex Ventures SEA & India, sees Pilgrim as a trailblazer in the industry. She believes that the brand’s robust product formulations and unique international offerings provide Indian consumers with high-quality and practical products at their doorstep. Pilgrim is poised to shape the future of India’s beauty and personal care sector, creating a genuinely aspirational and global brand.
