Comet, a sneaker startup, has seen impressive growth during its first year. The India-based direct-to-consumer (D2C) brand almost quadrupled its revenue in the financial year 2024-25 (FY25). This jump shows big revenue growth, strong customer interest, and a successful digital business approach.
Founded in July 2023 by Utkarsh Gupta and Dishant Daryani, Comet entered the competitive Indian footwear market with a clear D2C brand plan. The company’s revenue rose to ₹29.1 crore in FY25, a big jump from ₹7.3 crore in FY24. This is a 303.6% increase year-over-year, driven by strong product demand, more sales channels, and growing brand recognition among sneaker fans in India.
This financial success places Comet among the fastest-growing D2C brands coming out of India, emphasizing the potential of D2C startups that mix digital interaction with real-world experiences. Comet’s story is also featured in D2C news, the brand launches with a specific focus and expands quickly.
Even with explosive revenue growth, Comet’s net loss increased to ₹4.4 crore in FY25, compared to about ₹2 crore in FY24. The brand spent heavily on expansion and marketing to build its presence. This pattern – high growth with rising losses – is typical among new D2C startups that prioritize market share and customer demand over immediate profits.
Comet’s business focuses on both online sales and expanding its physical presence. The brand sells sneakers for men and women through its e-commerce platform and has three stores in Bengaluru, Delhi, and Hyderabad. Its product line includes over 15 items, and Comet’s products are available at nine retailers in major cities.
The growth has been supported by D2C funding. In July 2024, Comet raised $5 million (about ₹42.3 crore) in Series A funding led by Elevation Capital, with participation from Nexus Venture Partners and others. This fresh capital will support product development, marketing, and expansion.
Spending grew along with revenue, with total spending increasing over threefold to ₹36.1 crore in FY25 from ₹9.9 crore in FY24. Major costs included employee benefits (which grew over threefold), stock purchases (over 50% of total expenses), and advertisement & sales promotion spends (up nearly 246%), indicating heavy investment in brand building and D2C strategy.
Comet’s competition includes established brands and emerging D2C rivals like Bacca Bucci, Puma, Redtape, and Yoho, which shows how crowded the fast-growing footwear category is.
As buying behavior shifts toward digital discovery, personalized interaction, and multiple purchase methods, Comet’s growth shows how Indian D2C brands can capture demand by aligning product quality, brand image and storytelling.
Looking forward, Comet’s performance shows a trend in India’s D2C startup scene: brands that focus on a specific category, community building, and combined digital-physical strategies can see quick adoption and investor interest. With strong revenue growth in FY25 and solid funding, Comet is set to continue its rise among the D2C startups shaping the future of Indian consumer markets
