Body Cupid Private Constrained, the company which works D2C skincare brand WOW Skin Science, overseen to limit its net misfortune by 40% to INR 130.2 Cr in the money related year 2023-24 (FY24) from INR 258.1 Cr a year back, in spite of a degrowth in its topline.

Revenue from operations declined 10% to INR 233.5 Cr amid the year beneath survey as compared to INR 258.1 Cr in the past financial year, concurring to the company’s yearly money related report sourced from Tofler.

The Bengaluru-based company overseen to cut its by and large costs in FY24 to INR 377 Cr, a more than 22% decay from INR 486 Cr a year ago.

After decreasing its misfortunes in FY24, WOW Skin is presently pointing to accomplish “near break-even” in Q4 FY25 and turn beneficial by 2025, its cofounder Manish Chowdhary told ET.

“We expect assist decrease in misfortunes this monetary year, pointing to reach close break-even in Q4 (fourth quarter) and target full benefit in the coming year… With satisfactory capital saves for the brief to medium term, we are well-positioned for a solid execution in 2025,” the distribution cited Chowdhary as saying.

Founded in 2014 by Karan Chowdhary and Manish Chowdhary, WOW Skin Science offers a run of excellence and individual care items over skin, hair, shower and body, and nourishment categories. 

The company offers its items in more than 200 Indian cities and has set up its nearness over 22 nations, with a center on the US and South Asia as stay markets. In 2022, it moreover extended to the UAE showcase and in 2023 to Saudi Arabia.

It was detailed prior this year that WOW Skin was in talks with speculators to raise $65 Mn-$75 Mn at a valuation of $400 Mn.

Recently, the company made its raid into the makeup space with the dispatch of Color Cupid.

WOW Skin Science competes against brands like Plum, Mamaearth, Delicious Chemistry, Natural Gather, mCaffeine, Beardo, and Bombay Shaving Co.

The Indian magnificence and individual care showcase are anticipated to ended up $28 Bn opportunity by 2030, driven by consumers’ eagerness to pay more for items that address particular needs and their trade-up to masstige and distinction items.

source:INC42