Phab, a homegrown healthy snacking and protein supplement brand, aims to become an INR 100-crore brand in the next three years, with a presence in at least 30000 retail outlets across India. Revenues are expected to double in 2022, according to the company.
Ankit Chona, the ex-promoter and MD of Havmor ice cream founded the brand in 2019. Chona chose to hunt for the next chance when the company was sold to a Korean conglomerate. As a result, he founded Phab, a healthy snack company.
In 2021, the company experienced a 4X increase in revenue while expanding its retail footprint to six new markets. Within 18 months of its start, the company had spread to 12 cities across India. The healthy snacking market in India is predicted to increase at a CAGR of 25% over the next five years due to rising consumer awareness.
Phab began by selling protein powders and gradually expanded to include snack bars, protein smoothies, and protein bombs. According to the brand, the products are said to be free of preservatives, sugar, and artificial sweeteners.
The company’s retail network expanded across major outlets, including Foodhall, Nature’s Basket, 24Seven, Wellness Forever, Haiko, Modern Bazaar, Ratnadeep, Noble Plus, and others when the lockdown was phased out in 2021. Along with its e-commerce platform, it sells its items on Amazon, Flipkart, 1mg, and Smytten, among others.
“We focus on the insights derived from the consumer database that enables us to orchestrate personalised campaigns through paid, owned, and earned channels, thereby providing an ideal customer experience. Tracking customer feedback enables us to enhance our product development,” Chona commented.
“We further envision scaling up our existing product portfolio and introducing new affordable superfoods. We believe that healthier and cleaner alternatives to the currently available snacking products that are high on unhealthy ingredients must be made available across India through retail and e-commerce channels, especially the tier-2 and beyond cities,” he further added.
Phab made INR 65 lakh in revenue in November 2021 and is on track to make INR 1 crore by March 2022.