Make in India is yet to find global acceptance as a brand: Shaily Mehrotra of Fixderma

Most companies are focusing on India as a market, given the opportunities the country offers and to avoid the hassle of selling abroad. “You have to go through many documentation and registration processes. We have exhibited in many places like Moscow, Malaysia, Jakarta, Singapore, but mostly we have been the only ones from India to do so. Companies feel that it is a waste of time and resources,” he says in an interaction with ET Digital.

According to Markets and Data research, the Indian skin care market It was estimated to be worth $2.56 billion in fiscal 2023. Facial care was the largest category in the market both in terms of value and volume. The market is expected to reach $3.73 billion by fiscal year 2031, growing at a CAGR of 4.82% for the forecast period between fiscal years 2024 and 2031.

Founded in 2010, Fixderma focuses on manufacturing, marketing and promoting dermatological products in India and exports to over 30 countries. Their range includes products related to acne, hair care, scar treatment, foot care and other formulations for healthy skin.

Mehrotra says that a gap in the market for these types of products prompted them to go into the market in 2010. “At that time, the concept of pharmaceuticals, a combination of dermatology and cosmetics, was missing. We reached out to all the dermatologists to tell them our story and that’s how we started in Delhi-NCR. The existing product suite had a very serious, white pharmaceutical look. There were no anti-aging products; There were very few formulations. This is how we started our journey and now we have over 200 products in our range,” he says.

Initially, the brand faced skepticism from doctors, as it was a nascent category back then. The company also realized the importance of establishing its own manufacturing unit as a more reliable avenue for growth. “When we started, we manufactured through a private label. But after two years we understood that there were quality compromises, since 2 or 3 batches were rejected. We started our own unit in Neemrana in 2013 and it was the best decision we took,” says Mehrotra. talking about global competition In skin care, he says Korea is a leader and even European companies are facing that challenge. “Korean companies are doing very well: they are fashionable and make changes very quickly. “They are more interested in trends than functional skin care,” he says. Elaborating on how India has come a long way in terms of its approach towards skincare, Mehrotra says that people are now more aware and willing to spend to take care of their skin health. Recalling how, years ago, they found it difficult to get approval for the serum in the drug department, he explains that they were asked why approval was necessary as the serum was equated to an injection. “So it was very difficult and it took us six months to get it. But now, if you look at it, serums are an integral part of the skincare regimen for most,” he says, adding that sunscreens for different skin types are one of their fastest selling categories in the Indian market.

The company recently opened its first flagship store in Gurugram and also retails through various pharmacies and beauty stores.

On the anvil are plans to soon launch a range of baby care products and increase its export presence. “I want people to trust us like any other international brand for good skin health. We have stayed abroad and seen how some Indian companies are looked down upon in terms of quality. “We want to show that these notions are wrong,” he adds.