In Conversation With Deepak Agarwal, Founder, Auric
He started learning about Ayurveda, trying out different recipes and also, started convincing his friends and family to adopt Ayurveda.
1. What was the idea behind the launch of Auric?
During a sports tournament, the founder of Auric had a backbone fracture. This led him to 3 years of physiotherapy which did not help him. It was difficult for him to even bend his back without painful Sciatica. That's when he turned towards Yoga. 5 years of practising Yoga made him realise that Yoga actually works. He thought if Yoga works maybe, Ayurveda also works. This is how he got started on his journey towards Ancient Wisdom.
So he started learning about Ayurveda, trying out different recipes and also, started convincing his friends and family to adopt Ayurveda. The moment of truth came during this time. People around him were not very receptive to Ayurveda for multiple reasons. Ayurveda is difficult and inconvenient. Sourcing herbs and researching formulations takes time and energy. Ayurveda is dark science - friends didn't know if it is proven science or not. The weirdest of all reasons was that Ayurveda made people's personality linked with certain political and religious connotations.
This is when he decided to leave Unilever and dedicate himself to this beautiful wisdom of Ayurveda which needs to be made Simpler, Convenient and Aspirational. A wisdom which has existed for the betterment of lifestyle for masses long before politics and religion became a normal. An Ayurveda for Millennials. An Ayurveda that speaks in the language of Modern Consumer. If Turmeric Latte makes one adopt Ayurveda more than the look & feel of Haldi Doodh then Ayurveda needs to be adapted for the current generation. Because it is these 20–40-year-olds who will carry the legacy of Ayurveda in Future. Else it will get lost in books of History.
2. How has Covid -19 impacted Ayurveda?
Covid-19 has brought focus on natural living, wellness and nutrition. The tailwinds around Health and Ancient Wisdom have become stronger.
3. What has been the impact of Covid-19 crisis on your business performance and growth?
Except for few days of supply chain disruptions, Auric has managed to do well and grow well in spite of Covid.
4. What will be the role and scope of Ayurveda in India going forward?
Wellness, Natural Living and Going back to Roots are some of the strong drivers for Ayurveda to become a daily lifestyle for India going forward. Also, the way Yoga has been adopted by western world, Ayurveda can position India as a source of knowledge capital on wellness and ancient wisdom
5. Where all do you sell your products (both retail and online)? How are the sales like in Tier 2 and Tier 3 markets as compared to Tier 1 markets?
Auric sells its products only online but pan India. The sales is equally distributed across Tier 1, 2 and 3 cities.
6. What are your product lines? Which is the highest selling product?
Coconut Water based Ayurvedic Drinks and Ayurveda inspired Hot Beverages are product lines of Auric. Our highest selling products include Drinks for Glowing Skin & Sexual Wellness and Moringa Masala Tea
7. Any new product launches during Covid times?
We introduced Moringa Masala Tea, Turmeric Gourmet Coffee & Ashwagandha Hot Chocolate.
8. Auric's market share in India?
Auric is essentially a novel and aspirational Direct To Consumer (D2C) brand creating innovative and convenient lifestyle products by blending Ayurveda with benefits of modern sciences. It aims to break the lucrative $5 billion worth Ayurveda & Supplements industry by championing a scintillating array of world-class consumer products.
Auric operates in the mass-premium segment at the crossroads of Consumer Goods & Supplements. It has a unique range of Ayurveda-inspired, Coconut-water based drinks for Beauty & Wellness drinks for healthy skin, Balanced Weight & Stronger Hair being some of the examples. The company has also launched Ayurveda-based Hot Beverages such as— Moringa Masala Tea, Turmeric Coffee & Ashwagandha Hot Chocolate.
Auric is a fast growing brand in Ayurveda category for more than two years now.
9. Tell us about your funding and future plans?
The company recently received a Pre-Series A funding round of USD 2 million led by Cactus Venture Partners and Venture Catalysts. The funding round also witnessed participation from other eminent investors such as 9Unicorns, Karthik Bhat via AngelList and Capital-A (Manjushree Ventures).
Overall, Auric has been well funded in last few years with over $3m and plans to use the funds to grow Ayurveda through product and market led innovations.
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