Opinion
Gill: There has been zero innovation in Indian OTC over 10 years
“Because I think in the last 10 years, there has been zero innovation in the OTC space, right?”
Assertion Partly supported
Gill: OZiva hit ₹150-180 crore revenue with a 140% 3-year CAGR
“Today, you know, we are predominantly sitting at between 150 to 180 CR, right? Our growth for the last three years, we've grown at a one 40% CAGR and I think over the last three, four years, 2.5 million people or 25 black people have used our products”
Insight
Gill: D2C websites and retail should be treated simply as fulfillment channels
“Even today, I look at my own D to C as a fulfillment channel, e-commerce as a fulfillment channel, and also a chemist as a fulfillment channel. If a person wants a chemist, he can buy it from there. If they buy it from Amazon or Flipkart, the product should be…”
Insight
Gill: Clean eating trends are adopted first by women globally
“Also, globally, what we realized was that, you know you know, clean eating as a concept, right, is, is a lot first adopted by women and In, in the global or in the Western market as well, which is where we saw the same kind of trend in India as well, right?”
Insight
Gill: Founders should only raise capital after achieving product-market fit
“Both Mihir and I believe that you should raise capital when your business problem is solved, when you have a product market fit, because that's when you will be able to do justice to that capital. Right. Otherwise it's just gonna go, you know, it would be wast…”
Assertion Not checkable as stated
Gill: Scaled adult nutrition brands see max two repeat boxes yearly
“I think the age group between, I would say, 25 to 45 or 50, right? Where, which is where the retentions are not that great. Right. Where say even scaled up brands have seen maximum two boxes in an year being picked up.”
Disclosure
Gill: 20% of OZiva customers drop out after consulting uninformed doctors
“We saw that 20% of our people drop out because, you know, they go to a HCP and they say, I can take this regularly and not, right? And the HCP says, I don't know, I'm never, or, you know, I'm not sure.”
Assertion Not checkable as stated
Gill: D2C company revenue valuation multiples generally range between 4x and 8x
“I think that is pretty much set by the, you know, it's general in the industry. It could be anywhere between say four to Seven or eight X also, which is then based on how good the unit economics of the business are. Right. What is the potential of growth, righ…”
Insight
Gill: Private valuations are paper; true value is realized at listing
“I think in a, you know, because these are intermediate valuations, right? These are paper valuations. How much do they matter? I think your ultimate story comes in when you actually get listed, right? In general, I think that's the way to identify or say, for …”
Insight
Gill: Digital tests creative concepts while scaled TV delivers cheaper reach
“I think the digital gives you a good way to experiment on your creative cons. And then if you think that it's working well, then you can actually take it to a much larger kind of a reach, right? And I think TV on a large scale turns out to be much cheaper way …”
Prediction Not checkable as stated
Gill: At ₹500 crore scale, OZiva will be 40% non-nutrition
“At a large scale of say, 500 crore, I believe that would be say, 60% from nutrition and 40% from the other categories that we're operating in.”
Assertion Partly supported
Gill: OZiva filed patents for novel plant-derived calcium and iron
“Today we filed patterns and we have, you know, IP for some of these newer ingredients that we have derived. Right. Whether it being a calcium from a plant source or iron from a plant source.”
Assertion Not checkable as stated
Gill: Nearly 90% of offline retailers rejected OZiva at launch
“When we launched the brand, right. We actually went to offline initially, and we were rejected by, obviously, almost 90% of the retailers out there that you will keep your product, which is a typical story”
Assertion Not checkable as stated
Gill: 1 in 4 women consulting OZiva reported having PCOS
“Because a lot of women who came on a platform and consulted with us said like, you know, one out of four said like, I have PCOS and we realized that there is no solution that is talking to them.”
Disclosure
Gill: OZiva unbundled multi-benefit formulas to slash prices to ₹500-₹900
“Thereafter, the product lines that we built was, each problem became a separate solution, right? Rather than trying to merge these three, four kind of problems together, because the price points became too more expensive, right? So hence, our next price points…”
Disclosure
Gill: OZiva Prime nutritionist consultations boosted retention and lifetime value
“And I think that's the service today, which we focused on. How do we and it has helped us to improve our retention rates, right? Our LTVs.”
Assertion Not checkable as stated
Gill: OZiva was profitable early on with 5 home-based employees
“So we were operating with five, six people working from my home, right? In the initial two, three years through the limited capital that we had, right? We were growing based on that by, you know, and we were profitable in the first, obviously few years of our …”
Assertion Not checkable as stated
Gill: OZiva's D2C site drove 40% to 50% of its early sales
“We've been very strong digital first, right, for the first five years of our journey as well, and where the distribution was happening mainly through our own platform, which was contributing around 40 to 45 or 50% of our sales, right, and the rest was coming f…”
Assertion Not checkable as stated
Gill: 90% of OZiva's marketplace buyers searched for branded keywords
“Was that even if people are buying on the e-commerce platforms, they were searching for, say, 90% of them were searching for Oziva branded keyword, right? So people are looking up, looking for Oziva Herbalance, Oziva Protein, right?”
Assertion Not checkable as stated
Gill: OZiva currently generates 90% of its revenue from nutrition products
“Today, 90% of the revenues come from nutrition and 10 from the other categories that we're operating in.”
