India’s D2C ecosystem continues to witness brands transitioning from niche positioning to broader lifestyle plays, and Nat Habit, now rebranded as Breathe Life, is a clear example of this shift. In FY25, the direct-to-consumer personal care brand delivered strong topline momentum, with operating revenue growing 47 percent year-on-year to ₹106 crore, up from ₹72 crore in FY24, marking a significant milestone as it crossed the ₹100 crore revenue threshold.
The rebrand from Nat Habit to Breathe Life reflects a strategic repositioning rather than a change in core fundamentals. While the company continues to draw strength from its Ayurvedic personal care roots, the new identity signals an ambition to evolve into a broader lifestyle-led D2C brand. Its portfolio—spanning face washes, moisturisers, shampoos, hair treatments, and skin solutions—continued to account for virtually 100 percent of operating revenue in FY25, underscoring strong consumer acceptance across categories.
From a D2C business India perspective, FY25 was a year of aggressive brand building and reach expansion. Advertising and promotion emerged as the single largest investment area, accounting for 42 percent of total expenses. Marketing spends rose 61 percent year-on-year to ₹58 crore, compared to ₹36 crore in FY24, reflecting a conscious push to strengthen brand visibility, customer acquisition, and top-of-funnel awareness. The brand’s growing presence across high-engagement platforms such as CRED highlights this intent to embed itself deeper into India’s urban, digitally native consumer base.
Alongside marketing, broader operational investments also scaled up. Total expenditure increased 52 percent to ₹138 crore in FY25 from ₹91 crore in FY24, driven by higher spends across advertising, rentals, legal costs, logistics, and other operating overheads. This level of investment mirrors wider D2C market trends 2025, where brands in the personal care and wellness segments are prioritising long-term brand equity and recall over near-term profitability.
As a result of this growth-led strategy, net loss widened to ₹29 crore in FY25 from ₹18 crore in FY24. However, the underlying context is important—these losses are closely tied to deliberate front-loaded investments in marketing and scale rather than structural weakness. On unit economics, Breathe Life spent ₹1.30 to earn every rupee of operating revenue, compared to ₹1.26 in FY24, indicating relatively stable efficiency even as scale increased sharply.
From a balance sheet standpoint, the company remains well capitalised. As of March 2025, Breathe Life held ₹28 crore in cash and bank balances, with current assets of ₹54 crore, providing adequate runway to sustain expansion plans. To date, the company has raised approximately $16 million in funding from a strong investor base including Peak XV Partners, Fireside Ventures, and Whiteboard Capital. Co-founders Swagatika Das and Gaurav Agarwal continue to hold a meaningful 33.1 percent stake, signalling long-term founder commitment.
Within the broader Indian D2C updates landscape, Breathe Life’s FY25 performance reflects a familiar but important phase for scaling consumer brands—strong revenue momentum, expanding brand awareness, and deliberate investment ahead of operating leverage. Crossing the ₹100 crore mark places the brand firmly among the more meaningful D2C personal care brands in India, even as it continues to invest heavily to build recall, trust, and repeat behaviour.
As the D2C ecosystem India matures, brands that successfully combine product authenticity with lifestyle positioning and sustained marketing muscle are likely to emerge stronger over time. For Breathe Life, FY25 stands out as a year of scale, transition, and brand-first execution—laying the groundwork for a more balanced growth phase in the years ahead.
