Bewakoof Narrows FY25 Loss By 29% To INR 73.2 Cr

D2C startup Bewakoof reduced its losses by 29% in the financial year FY25 amid a slight uptick in its top line and reduction in expenses. The startup’s net loss for the fiscal stood at INR 73.2 Cr up from the INR 103.1 Cr loss incurred in the previous fiscal.

Its operating revenue rose 8% to INR 173 Cr in FY25 from INR 160.9 Cr in FY24. Including an other income of INR 1.8 Cr, Bewakoof’s total income for FY25 stood at INR 174.7 Cr.

The startup’s EBITDA loss improved 38% to INR 57 Cr from INR 94.4 Cr in FY24. Its EBITDA margin for FY25 improved 2500 bps to -34% from -59% in the year ago period.

Founded in 2012 by Prabhkiran Singh, Bewakoof is a D2C fashion and lifestyle brand that earns revenue by selling clothing, accessories, notebooks, and backpacks targeted at millennials and Gen Z consumers.

It is owned by Aditya BIrla Fashion and Retail’s rollup arm TMRW. In 2022, TMRW bought a majority stake in the startup for INR 200 Cr. At the end of the June quarter, it owned 88% stake in the startup in FY25.

Overall, TMRW’s portfolio achieved a 55% YoY growth. In its annual report for FY25, ABFRL said that a key growth driver for the entire portfolio was scaling its offline presence in curated locations.

“Brands like Bewakoof, The Indian Garage Co (TIGC), and Nobero expanded into physical retail. TMRW now operates 16 stores across 7 cities,” the company said.

Bewakoof’s offline expansion is in line with a trend notice across the D2C category. The expansion of offline retail presence, whether via company owned stores or in partnership with retail businesses, appears to be the key focus of digital-first consumer brands.

For instance, eyewear brand Lenskart and mattress seller Wakefit have earmarked a significant portion of the proceeds they raise from their respective IPOs to enable offline expansion.

Meanwhile, Bewakoof’s competitors Snitch and Bear House have been on an aggressive expansion spree of their own. While Snitch raised $40 Mn in a Series B round in June 2025 to nearly double its offline retail store count to 100 by the end of 2025, The Bear House raised $5.8 Mn to launch 20 stores over the next two years.

The startup’s expenses for the fiscal year under review dropped 7% to INR 247.9 Cr from INR 265.2 Cr last year.

Employee Benefit Expenses: Employee expenses dropped 41% to INR 25.64 Cr from INR 43.41 Cr.

Advertising Promotional Expenses: The startup spent INR 48.6 Cr to promote itself in FY25, down about 4% from INR 46.9 Cr spent previously.

Transportation Costs: The expenses under this head increased 10.2% to INR 34.6 Cr from INR 31.4 Cr in the year ago period.

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