WOW Skin Science’s Loss Surges 15.5X YoY To INR 136 Cr In FY22, Revenue Up 3.4X

WOW Skin Science’s Loss Surges 15.5X YoY To INR 136 Cr In FY22, Revenue Up 3.4X

SUMMARY

WOW Skin Science’s operating revenue rose 3.4X to INR 340.37 Cr from INR 99.83 in FY21

The D2C brand’s total expenses skyrocketed 4.4X to INR 479.77 Cr from INR 108.58 Cr in FY21

WOW Skin Science spent INR 1.4 to earn every INR 1 in FY22

Bengaluru-based D2C skincare brand WOW Skin Science reported a 15.5X jump in its net loss to INR 135.83 Cr in the financial year 2021-22 (FY22) from INR 8.78 Cr in FY21 as the growth in its expenses outpaced the rise in revenue.

The total revenue of Body Cupid Private Limited, the parent company of WOW Skin Science, rose 3.4X to INR 343.94 Cr in FY22 from INR 99.83 Cr in FY21. Operating revenue also increased 3.4X to INR 340.37 Cr from INR 99.83 Cr in FY21, as per Body Cupid’s filings with the Ministry of Corporate Affairs.

Besides WOW Skin Science, Body Cupid also operates BuyWOW and WOW Life Sciences. 

Meanwhile, total expenses skyrocketed 4.4X to INR 479.77 Cr in FY22 from INR 108.58 Cr in FY21, led by a surge in employee benefit expenses. WOW Skin Science spent INR 1.4 to earn every INR 1 during the year under review. 

The D2C startup’s employee benefits expense jumped 8.3X to INR 19.28 Cr from INR 2.33 Cr in the previous year. Employee benefit expenses generally comprise employee salaries, PF contributions and gratuity, among other benefits. 

On the other hand, other expenses, including spending on fuel, rent, R&D, IT, legal fees, transportation, packing, commission paid to sole selling agents and advertising, were the biggest contributors to total expenses. The D2C startup reported other expenses of INR 278.93 Cr in FY22, up 4X from INR 69.57 Cr in FY21. 

Advertising and promotional expenses too surged 4.3X to INR 188.76 Cr from INR 43.90 Cr in FY21, while the purchase of stock-in-trade increased 2.4X to INR 164.76 Cr from INR 69.46 Cr in the previous fiscal.

The D2C startup was last profitable in FY20 when it recorded a profit of INR 9 Lakh on operating revenue of INR 6.5 Cr. However, WOW Skin Science has seen its expenses balloon since FY21, and with them, its loss.

Founded in 2014 by Manish and Karan Chowdhary, WOW Skin Science offers products across skin, hair, bath and body, wellness and nutrition and health. It competes with the likes of Nykaa, Mamaearth, SUGAR Cosmetics, and mCaffeine. 

The startup last raised $48 Mn from Singapore’s GIC in June 2022. It has raised a total funding of $125 Mn across multiple rounds to date.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

WOW Skin Science’s Loss Surges 15.5X YoY To INR 136 Cr In FY22, Revenue Up 3.4X-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

WOW Skin Science’s Loss Surges 15.5X YoY To INR 136 Cr In FY22, Revenue Up 3.4X-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

WOW Skin Science’s Loss Surges 15.5X YoY To INR 136 Cr In FY22, Revenue Up 3.4X-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

WOW Skin Science’s Loss Surges 15.5X YoY To INR 136 Cr In FY22, Revenue Up 3.4X-Inc42 Media
WOW Skin Science’s Loss Surges 15.5X YoY To INR 136 Cr In FY22, Revenue Up 3.4X-Inc42 Media
You’re in Good company