Cycle Pure Agarbatti has taken a majority stake in Satvik Spirituals, bringing together a legacy brand with a fast-growing digital-first player in the devotional space. Rather than a typical acquisition, both companies see this as a partnership built on shared values. By combining Cycle’s strong retail reach and trusted name with Satvik’s wide product range and online strength, the aim is to make spiritual products more accessible and easier to buy.
In conversation with IMPACT, Arjun Ranga, Managing Director, Cycle Pure Agarbatti and Vinod Bansal, Founder and Managing Director, Satvik Spirituals Private Limited talk about building scale, trust, and a more connected devotional ecosystem.
Q] What would you like to highlight about this acquisition, and what it means for your brand’s larger vision?
Ranga: I would not strictly describe this as an acquisition. While Cycle has taken a majority stake in Satvik, we see it more as a partnership; an association of like-minded organisations. At Cycle, we have already established ourselves in fragrance-led home and lifestyle products, and we have also expanded into functional air care through brands such as Iris and Lia. Within the puja samagri segment, we already have Om Shanti, which caters to functional needs.
However, we wanted to expand into lifestyle-oriented spiritual products, and that is where Satvik fits in seamlessly. Vinod has built a remarkable ecosystem, working with nearly 600 artisans and developing an extensive catalogue of close to 10,000 SKUs. The opportunity in this segment is significant, and we see strong potential for scale. Satvik will continue to operate independently, supported by the scale and strength of Cycle.
Bansal: With this partnership, we aim to reach a wider audience. Both Cycle and Satvik bring strong brand equity and trust, and together, they naturally strengthen consumer confidence. Our vision is rooted in authenticity. There is currently a lack of standardisation in puja products, and we see an opportunity to address that gap. By setting new benchmarks, we hope to emerge as a trendsetter in the spiritual products space.
Q] What strategic gap does this partnership solve? How does it accelerate your vision beyond traditional agarbatti and puja essentials?
Bansal: Cycle brings over 75 years of trust and an extensive retail network across India. One of the key reasons we partnered with them was the alignment in vision and values. Until now, Satvik has largely been a digital-first, D2C brand. With Cycle’s support, we can now expand into omnichannel distribution, particularly in offline retail, which is a significant growth lever for us.
Ranga: One of the biggest gaps this partnership addresses is speed to market. Our strength has not been in accessories, especially in North India, whereas Satvik has built a strong presence in that region. They have developed a robust vendor ecosystem across clusters such as Saharanpur, Moradabad, Khurja and Agra. This established infrastructure and supply chain will enable us to move faster and expand more efficiently in categories where we previously had limited reach.
Q] Both brands have built strong legacies in devotional products. How are you looking to scale this into a more integrated, future-ready devotional ecosystem?
Ranga: Our intent is to bring the entire spectrum of devotional products under the Cycle umbrella. The trust and quality associated with Cycle will only strengthen Satvik’s proposition of authenticity. Together, we aim to offer a holistic range that caters to every aspect of spiritual living.
Bansal: From the beginning, our vision for Satvik has been to create a one-stop solution. If a consumer visits our platform, they should find everything they need without having to look elsewhere. We are continuously expanding our product portfolio to achieve that.
For instance, if we offer products like shankh or idols, our goal is to provide the widest possible variety within those categories. We are particularly focused on segments such as rudraksha and gemstones. Additionally, we are launching a dedicated wedding section in the third quarter, which will present a comprehensive range of wedding-related spiritual products. No brand currently offers a complete pan-India solution in this space, and we see a strong opportunity to fill that gap.
Our larger ambition remains to become the most authentic brand in the spiritual segment, and that focus will only intensify after this partnership.
Q] With the financial year 2025–26 in focus, how has growth trended upward for Cycle, and what will drive its next phase?
Ranga: This has been a positive year for Cycle; we have witnessed double-digit growth. Going forward, we believe the key growth-drivers will be premium products, alongside our core traditional offerings. Another significant development has been the rise of online channels and quick commerce.
Quick commerce, in particular, has exceeded our expectations in terms of adoption. Our products have found strong traction on these platforms, and we see this channel playing a critical role in propelling future growth.
Q] Devotion is increasingly intersecting with digital platforms, including online rituals and services. How is Cycle adapting to this change in consumer behaviour?
Ranga: We have already invested in building a digital ecosystem. Cycle.in serves as a one-stop shop for all puja and prayer needs, while astropuja.com offers astrological and ritualistic services. Satvik’s strong digital presence further strengthens our capabilities in this space, particularly in hardware and accessories.
For us, digital is just as important as offline and modern trade. However, a large portion of our sales still comes from physical channels. What has changed significantly is the discovery journey. Consumers now discover products online, which makes it essential for us to have a strong digital presence.
Bansal: We have also started offering online puja services in the digital space. One of the challenges in this category is trust, especially in group puja formats where consumers are unsure if the rituals are actually being performed in their names.
To address this, we are focusing on individualised puja services. Each ritual is live-streamed and recorded, ensuring complete transparency. Customers can see and verify that the puja has been specifically conducted for them. This level of assurance is crucial in building trust in the digital spiritual services space.
Q] There is a growing cultural shift towards community-led devotional experiences. How are you engaging with younger audiences and evolving consumer preferences?
Bansal: We are actively working on blending spirituality with modern lifestyle elements. For instance, we are introducing spiritual jewellery that combines traditional significance with contemporary design. This helps us connect with younger consumers, particularly Gen Z, who are looking for ways to integrate spirituality into their daily lives in a more stylish and personal manner.
Our work in categories like rudraksha is also evolving to reflect this shift.
Ranga: We have been actively participating in community-driven initiatives for a long time. Our engagement largely centres around women-led groups, as they form a significant part of our consumer base. We support various cultural and spiritual gatherings organised by these communities. Beyond that, we are deeply committed to social initiatives. We run a school for visually impaired girls, supporting nearly 100 students; we have been doing this for over 30 years. We also invest in skill development programmes for underprivileged women, particularly around our manufacturing hubs in Mysuru.
As an organisation, more than half of our shop floor workforce comprises women. Our association with women-led initiatives reflects our brand values and is therefore, organic.
Q] Premiumisation is becoming more prominent in the devotional products category. What is driving this development, and how are you addressing it?
Ranga: Today, premiumisation is not just about higher price points. It is about authenticity, traceability and convenience. Consumers are willing to pay more if these aspects are clearly delivered. For example, our curated puja kits are designed to offer a complete solution for specific rituals. These kits include all necessary components along with pointers on how to use them. This integrated approach simplifies the experience for consumers, making it more convenient and accessible.
What we are witnessing is that consumers are not interested in paying extra for superficial elements like fancy packaging or greenwashing. They expect genuine value. Authenticity and convenience are the key drivers of premiumisation in this category, and that is exactly where we are focusing our efforts.
