Direct-to-consumer skincare brand Foxtale continued its rapid growth trajectory in FY25, with revenue from operations nearly touching ₹200 crore, even as higher marketing and scaling costs pushed losses deeper into the red.
According to financial statements filed with the Registrar of Companies (RoC), the Mumbai based startup reported operating revenue of ₹199 crore in FY25, a 2.4x jump from ₹83 crore in FY24. Founded in 2021 by Romita Mazumdar, Foxtale focuses on affordable skincare products tailored for Indian skin concerns such as acne, ageing and hyperpigmentation.
Sales of skincare and beauty products remained the company’s sole revenue stream during the year. Including other income of ₹7 crore, Foxtale’s total income stood at ₹206 crore in FY25.
Expenses Rise Sharply
Foxtale’s aggressive scale-up led to a significant rise in costs. Advertising and marketing expenses, which made up 38% of total expenditure, more than doubled to ₹106 crore from ₹50 crore a year earlier. Cost of materials consumed also rose sharply to ₹74 crore, compared with ₹34 crore in FY24.
Employee benefit expenses increased 55% year-on-year to ₹31 crore, reflecting team expansion. Overall, the company’s total expenses surged to ₹279 crore, up from ₹139 crore in FY24.
As a result, net loss widened 38% to ₹73 crore in FY25, compared with a loss of ₹55 crore in the previous year. However, efficiency metrics showed improvement, with Foxtale spending ₹1.40 to earn every rupee of operating revenue, down from ₹1.67 in FY24.
Liquidity and Outlook
Foxtale’s cash and bank balance rose sharply to ₹166 crore, from ₹43 crore a year earlier, while current assets increased to ₹316 crore. The company has raised $52 million in funding to date, with Matrix Partners and Kae Capital as key investors. Founder and CEO Romita Mazumdar holds a 34% stake.
Foxtale recently said around 50% of purchases on its D2C platform come from repeat customers. The company expects to close the year with ARR exceeding ₹700 crore in GMV and has indicated it is targeting profitability in the next financial year.
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