Vitaminhaat has launched a new manufacturing configuration
In August 2016, the company, also known as Varion Food Sciences Pvt Ltd, acquired land in MIDC, Maharashtra for an undisclosed amount for the health supplement manufacturing facility.
The vision behind in-house manufacturing was to have complete control over sourcing genuine raw materials from producers to encapsulation and final packaging in ISO 22000, HACCP, GMP certified facilities for Ayurvedic medicines and supplements to serve the Indian market and U.S.
So while working with Varion LifeSciences Pvt Ltd, he realized that the growth of dietary supplements in the west was almost saturated and now these products began to find a good place in Indian consumers, with disposable income to take proactive steps to your health.
And being a health conscious person himself, Sanjay always wanted to do something in the dietary health industry for India as well.
The best part here was that Sanjay had already been working in the healthcare segment for quite some time. Therefore, when he saw an opportunity, he decided to seize it.
Now its beginning was quite unusual. Although it was clear in their heads that they wanted to do something in the health sector, it was not known exactly what they wanted to do. Therefore, before starting the portal, they tried their hands in different subsectors.
From entering public healthcare to providing practice management software to independent physicians and small clinics, they literally tested waters with at least two or three different business models. But nothing seemed to attract them.
However, this turned out to be a learning phase from which they gained enough experience and understanding of how the healthcare industry works in India. And when the talk happened, they realized that they really should and also wanted to be in the B2C (Business to Consumer) segment.
Hence, E-commerce played its role and with 4 team members this Company was born.
How does your delivery model work?
We deliver through various logistics partners. Typically, delivery is within two business days to metropolitan areas.
What is the type of financing you have received and what is the income model?
Initially, we are reluctant to seek outside funding, as we could lose business flexibility. We have recently acquired an existing facility to manufacture our own supplements and expand our operations. Once that is done, we can either move closer to funding or we can go the IPO route.
Popular ecommerce sites are said to be bleeding profusely, what is your take on the future of ecommerce space in India?
We believe that it will take at least 3-4 years for India to mature as an e-commerce market. We base our growth on solid fundamentals and are confident that all the players doing the same have plenty of room to grow.
