Women-focused wellness D2C brand BlissClub raised $15 million in a Series A round during the first quarter of FY23. While the impact of those funds would be ascertained when it files financials for FY23, for now lets decode its FY22 numbers.
BlissClub’s revenue from operations ballooned multifold (41X) to Rs 14.82 crore during the fiscal year ending March 2022 in comparison to Rs 36 lakh in FY21, as per the company’s annual financial statements with the Registrar of Companies.
Following the scale, expenses of the company also soared which resulted in a loss of Rs 8.9 crore during FY22. Importantly, FY21 was the first operational year for BlissClub.
The Bengaluru-based startup is homegrown activewear brand and does retail trading of active lifestyle apparel, accessories and related products for women. The startup does around 90% of its sales through its website and rest from various other marketplaces.
Purchase of traded goods accounted for the largest cost element for BlissClub and formed 33.5% of the total expenses. Along with scale, this cost shot up to Rs 7.97 crore in FY22 from Rs 21 lakh in FY21.
Advertising & marketing cost also jumped to Rs 7.93 crore during the year followed by employee benefit expenses which registered at Rs 4.87 crore in FY22.
BlissClub also incurred expenses related to shipping, legal, commission, rental, subscription, web domain & hosting, payment gateway et al. which took its overall expenditure 66X up to Rs 23.77 crore in FY22 as compared to Rs 36 lakh in FY21.
On a unit level, BlissClub spent Rs 1.6 to earn a rupee of operating income.
BlissClub has raised nearly $17.25 million till date from the likes of Eight Roads Ventures, Elevation Capital, and Crimson Holdings among others. As per Fintrackr’s estimates, the company was valued at around Rs 540 crore or $70 million post-allotment of its Series A round.
BlissClub competes with brands such as Playfiks, Kica Active, SilverTraq et al.
