SUMMARY
With Bollywood superstar Ranveer Singh as the cofounder, the D2C brand aims to gain mainstream attention and tackle men’s sexual health issues without stigma
The Origin Story
If conversations around sex are taboo in India, so are men’s sexual health issues. Rajat Jadhav (a serial entrepreneur and a former VC) and Rahul Krishnan, founders of the e-pharmacy ReMedi, observed that 50% of their orders were related to sexual health as consumers preferred privacy-first online solutions. A deep dive into this space further revealed a huge market opportunity as the segment was among the top three categories across consumer healthcare companies. However, the sexual wellness space for men has always been peppered with shady organisations/fraudsters claiming miracle cures. Aware of the ground realities, Jadhav, Krishnan and Mohit Yadav set up Bold Care for free online consultations and well-researched sexual health solutions.
The Differentiator
The sexual wellness brand provides a product line that is well-researched and science-backed to tackle problems such as erectile dysfunction, premature ejaculation (PE), infertility, hair fall and more. It has established an in-house R&D team to develop solutions and works with top-notch contract pharma manufacturers for production. Before hitting the market, Bold Care’s flagship products undergo extensive testing at an NABL-accredited lab. Many of these are US FDA-certified and the brand claims an efficacy rate of 95%. It also enables free online consultations with licensed doctors having at least 10 years of experience. The platform conducts background checks and verifies each doctor’s licence. Patients can also access a doctor’s resume, medical licence and other credentials.
The Growth
Bold Care’s digital campaign went viral when it featured Bollywood superstar Ranveer Singh, along with American adult actor and model Johnny Sins, and announced Singh as a cofounder. The business saw a 205% YoY jump in revenue in FY23, was CM3 positive for most of the year and CM2 positive every month. (Contribution margin/CM is a critical KPI for profitability. Improving these margins requires reduced fixed costs through process improvements, staying RoAS-positive to maximise marketing benefits and ensuring price advantages.) Its products are sold via its website, on most online marketplaces and quick-commerce platforms such as Blinkit, Zepto and Swiggy Instamart.
What’s Next
It aims to emerge as a go-to brand for sexual health in 2024 and gain mainstream attention, given the popularity of its celebrity cofounder, Ranveer Singh. It also eyes an annual run rate of INR 100 Cr this calendar year. By 2025, Bold Care will set up an omnichannel presence and turn a profit to cement its position in the market.
