Founders
Jasmine Shah and Bhakti Bhanushali
Location
Mumbai, India
Business Model
D2C (Direct-to-Consumer) offering customizable cosmetics, starting with lipsticks.
Target Market
The primary target market includes women aged 18-45 who are looking for personalized makeup products. The brand also targets events like weddings, corporate events, and parties for live lipstick making experiences.
Unique Selling Proposition
Customizable lipsticks where customers can choose their shade, texture, and scent, emphasizing vegan, cruelty-free, child-friendly, and dermatologist-approved products.
Industry Analysis
The cosmetics industry is competitive, with a significant shift towards personalized and sustainable products. Karibo Cosmetics’ customizable lipstick service taps into this growing trend.
Positioning
As a premium, customizable cosmetic brand that offers an engaging and unique customer experience.
Promotion
Through live events, social media marketing, influencer partnerships, and word of mouth. The brand has already achieved significant visibility through over 500 events.
Pricing
Premium pricing strategy, reflecting the customizable, high-quality, and sustainable aspects of the products.
Production
Custom lipsticks are created at events by a team of mixologists or through online orders, where customers can select their preferences.
Team
The founders are supported by a team of mixologists who are skilled in creating custom cosmetics. As the business grows, the plan involves setting up a formal company structure and expanding the team to support business operations.
Revenue Streams
Mainly from live events and direct sales to consumers. The company aims to expand its product range beyond lipsticks to other cosmetic items.
Past Performance
Closed the last fiscal year with a revenue of around 80 lakh INR, and by September 30 of the current year, they have already achieved 64 lakh INR, projecting to hit 1 crore 65 lakh INR by year-end.
Profit Margins
High gross profit margins (around 60%), with net profits around 50%, excluding partner remuneration.
Investment Ask
80 lakh INR for a 5% equity stake, aiming to use the funds for business expansion, product development, and marketing.
Growth Strategy
To scale the business, Karibo Cosmetics plans to further diversify its product range, enhance its online presence, and possibly explore the B2B segment by partnering with other businesses for corporate events.
