Announcing FAST42 2023: Discovering India’s Fastest-Growing D2C Brands

Since 2015, Inc42 has kept a close eye on India’s D2C ecosystem. We’ve seen brands evolve from pure-play website players to omnichannel allrounders — leveraging marketplaces, offline retail stores and their own websites to shape how consumers shop and interact with brands.

Through dedicated reports, hands-on playbooks and wide-reaching conferences, we’ve tracked the growth of the D2C industry and reported extensively on some of the most promising disruptors of online retail. 

Last month, we concluded the third edition of India’s largest D2C and ecommerce conference, The D2C Summit 2022 which saw participation from 5,000 attendees and 70+ prominent speakers from the ecommerce industry. 

The overarching response is a testament to India’s burgeoning D2C potential.

Today, Indian D2C brands are making inroads across sectors, from FMCG and fashion to home decor and electronics. According to Inc42 data, there are more than 128 Mn online shoppers in India and the number is estimated to surpass 350 Mn by 2025, growing at a CAGR of 28%.

Likewise, the D2C sector’s market opportunity is set to reach $100 Bn by 2025 and an estimated $300 Bn by 2030, growing at a CAGR of 24%. 

In an attempt to foster, identify and recognise India’s fastest-growing D2C brands and enable them to get discovered by investors, attract talent and build new business opportunities, Inc42, in partnership with Shiprocket, is back with the second edition of India’s most coveted list of D2C brands – FAST42.

FAST42 2022: A Quick Recap

After months of vetting thousands of applications, conducting hundreds of interviews and hearing dozens of pitches, we selected 42 D2C brands  — (28 in the Growth category and 14 in the Emerging category) that we believed had cracked the D2C formula to scale. 

FAST42’s inaugural list was unveiled in March 2022. According to Inc42’s estimates, together, these brands had created over 2,200 jobs, had a medium growth rate of 186.2% and generated total revenue of $99.6 Mn. 

Since then, several brands that made it to the coveted list have gone on to raise funding, made acquisitions and scaled their reach. 

For instance, in May 2022, D2C jewellery brand Melorra (it was shortlisted in the Growth category), raised $16 Mn in the first closure of its Series D round. Another brand from the Growth Category, Farmers Fresh Zone (FFZ) acquired AM Needs in September 2022.

In August, wellness brand Bold Care (from the Emerging category) told Inc42 that it recorded a 3x jump in revenue and aims to cross 10 Lakh+ users by the end of FY23. 

Also, from the emerging category, snack brand TagZ Foods recently crossed the sales milestone of 50 Lakh units and is eyeing an ARR of INR 100 Cr for the current financial year.

We’re glad to have recognised the potential of these brands that have shown that they stand above the competition. 

Why D2C Brands Should Apply

• New Business Opportunities: The winning 42 brands will generate business visibility among potential partners, customers and investors.
• Brand Exposure: Winners will be featured on the Inc42 website. Inc42 reporters will also focus on exciting brands and trends highlighted by the list.
• Employer Branding: The coveted list will create awareness about your brand and its potential to emerge as a sought-after workplace.
• Credibility: Gain the Inc42 stamp of approval for creating a truly innovative D2C startup in India.

Application Criteria

Growth Category

This category is for D2C brands that have successfully demonstrated growth and traction. Brands will be ranked based on the highest revenue growth rates between 2020 and 2022. 

The brand should:

• be founded before April 2020
• have generated at least INR 1 Cr in revenue in FY19
• have generated at least INR 7 Cr in revenue in FY22
• not exceed INR 100 Cr in revenue in any financial year 
• be a privately held, for-profit and India-based independent entity (not a subsidiary or division of another company)
• sell its own products via its own website as a key sales channel

Emerging Category 

This category will feature India’s emerging D2C brands that have successfully demonstrated innovation or disrupted a category. Once shortlisted, the brands will pitch before a panel of jury, comprising eminent stakeholders from the startup ecosystem.

The brand should:

• be founded on or after April 1, 2020
• have generated at least INR 50 Lakhs in revenue in any financial year
• not exceed INR 7.5 Cr in revenue in any financial year
• be a privately held, for-profit and India-based independent entity (not a subsidiary or division of another company)
• sell its own products via its own website as a key sales channel

With FAST42 2023, we aim to celebrate and recognise the unique journeys of India’s D2C brands and give them ample exposure to accelerate their growth to the next level.

The final list of 42 D2C brands will be announced during an event in January 2023. These brands will be featured on an interactive webpage on Inc42 and an exclusive coffeetable book. 

The last date to apply is 15 November 2022. 

Apply Now!

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