These entrepreneurs launched a Health, Wellness and Nutrition e-commerce startup in 2021, clocking a turnover of Rs 12 Crore

The health, nutrition, beauty and wellness products industry in India is a rapidly growing market. According to recent estimates, the industry is valued at around $10 billion and is expected to grow at a CAGR of around 15% over the next ten years.

Moreover, rapid urbanization, highballed awareness and an increase in disposable income of people have made health, nutrition and wellness products more prominent than ever before.

However, most of the existing platforms that sell these products cater only to Tier 1 or metro cities in India. There is no platform that is addressing the needs of Tier 2,3 and other small towns in India. Ashish Aggarwal & Dilmeet Kaur laid the early foundations of Richesm Healthcare Private Limited in February 2021 to address this problem.

The Founders & Team

Ashish is the Ex-GM Operations at a renowned healthcare organization and has 20 + years of experience in Sales & Operations. On the other hand, Dilmeet Kaur is an engineer in academics, a business enthusiast by profession and has several years of experience in this field.

Ashish & Dilmeet have set up the company headquarters in Noida. They have a team of 29 members actively involved in the daily operations of Richesm Healthcare Private Limited.

What is Richesm Healthcare Private Limited?

It is an e-commerce platform that specializes in health, nutrition, beauty and wellness products. There are about 188 + brands listed and about 15,000 products in categories such as Sports Nutrition, Vitamins & Supplements, Health Food & Drinks, Herbs & Ayurveda, Wellness & Others (Beauty, Fitness etc).

Richesm Healthcare Private Limited has an extensive chain of operations across Delhi NCR, Maharashtra, West Bengal, Uttrakhand, Purvanchal, Allahabad, the whole of UP, other regions of India & abroad through its online portal www.richesm.com

Additionally, the platform provides useful product descriptions and customer reviews that can assist customers in making wise purchase decisions. The www.richesm.com website allows customers to easily log in and shop by product category, brand, and even their own personal objectives.

Centrum, Dr Vaidya's, and Nutrela Super Foods are the notable brands that Richesm Healthcare Private Limited has exclusive rights. These rights guarantee the authenticity of every product.

Its goal is to give high-intent customers in India's Tier 2, Tier 3, and other small towns access to top-quality health, nutrition, beauty, and wellness products.

Traction, Vision & Investments

In just 2 years of operation, the company has served 180,000 customers and is clocking a turnover of 12 crores. They are on the trajectory of successfully establishing a 100 + store network across India.

The vision of the company is to clock a turnover of 500 crores by FY 2027. Richesm Healthcare Private Limited had raised a seed round of 2.38 crores in 2021-22. Prominent Angel Investors and distinguished CXOs had participated in the seed round.

The Richesm Foundation

The Richesm Foundation is the CSR arm of Richesm Healthcare Private Limited. This foundation is engaged in helping cottage industry suppliers from North East India by getting them access to consumer markets across India. Furthermore, they plan to undertake other socially meaningful activities under this foundation.

The Unique Partnership Opportunity

The company is offering a lucrative franchise business plan with extensive pre-opening and post-opening brand support along with an exclusive ‘Sell With Us’ model on their online portal.

It is also inviting FOFO partners to develop retail stores pan India. Another interesting opportunity is for Multi-Channel Single Unit & Multi-Unit franchise partners at the City level.

Young investors with in-depth knowledge of the pharmaceutical and wellness retail industries can launch their own Richesm Healthcare Private Limited outlet for just 15-20 lakhs with a 25–28% profit margin.