Jiva Ayurveda’s ambitious plans to grow in the Ayurveda space
With the overwhelming growth of the Ayurveda economy in India, especially during the pandemic, Jiva Ayurveda, founded in 1992 and headquartered in Faridabad, Haryana, is making a mark in the industry with its innovative approaches and ambitious plans. The company is currently looking at a Rs 100 crore topline run rate by the end of FY22.
Madhusudan Chauhan, Director, Jiva Ayurveda, says that the Ayurveda space flourished and took centre stage during the global pandemic. As more people moved away from a chemical driven lifestyle to a more natural and holistic way of life, it was clear that awareness on building the body's overall immunity to ward off lifestyle disorders had increased.
“What started off initially as a choice for immunity building is now translating into a choice for Ayurveda as a lifestyle,” says Madhusudan.
An unprecedented growth of 700-800 percent was noticed in the immunity portfolio during the initial months of the lockdown, shares Madhusudan. Additionally, Jiva has pioneered telemedicine in the
Ayurveda space, and has put up the “world’s first Ayurvedic telemedicine online and on video,” he says. A very high adoption of video consultation was noticed as people were not able to step out and visit physical clinics during the lockdown, thereby choosing video as a preferred mode.
“We saw a very significant shift in the way the consumers were choosing to access Ayurveda,” says Madhusudan.
He adds that the company’s long-term vision is to help people adopt an Ayurvedic way of life, which essentially translates to helping them make the right choices in terms of nutrition, lifestyle, etc. along with providing them the right products and services.
The company has expanded their online distribution, online visibility and partnerships. “In the short term, the products will certainly see more adoption as people are looking to choose healthier, holistic and natural health choices,” says Madhusudan.
The company is also expanding its network of physical clinics, besides building on video consultations on different platforms. Within the next 18 months, the plan is to grow their network by 30 percent. On product portfolio, the founder said the brand has added more than 35 SKUs over the last 15 months.
“We intend to go big on digital based experience in Ayurveda,” says Madhusudan. He adds that the company will seek to raise more funds in the upcoming future, besides looking at a 45-50 percent jump in the product side, and a 20 percent jump on the service side in terms of revenue.