Homegrown D2C sneaker brand Comet has reported a sharp jump in revenue, with its topline nearly quadrupling to Rs 29.1 crore in FY25, up from Rs 7.3 crore in FY24. The surge comes on the back of rising demand for its products and a growing appetite for Indian sneaker labels among younger consumers.
FY25 was also the company’s first full financial year of operations. Comet began selling in July 2023 and scaled quickly through its own website and select offline touchpoints. Founded by Utkarsh Gupta and Dishant Daryani, the brand focuses on design led sneakers for both men and women and currently offers more than 15 SKUs across categories.
Apart from core sales, Comet earned Rs 2.7 crore from other income during the year. This included interest on bank deposits, interest on income tax refunds, and proceeds from the sale of scrap. This additional income pushed total revenue growth to over 300 percent year on year, highlighting how aggressively the business expanded during the period.
However, the rapid growth also came with rising costs. Comet’s net loss widened by 120.6 percent to Rs 4.4 crore in FY25, compared to a loss of Rs 2 crore in FY24. Higher spending on marketing, product development, inventory, and brand building contributed to the wider losses as the company focused on scale rather than short term profitability.
The numbers reflect a familiar pattern in India’s D2C space. Young brands are choosing to invest heavily in growth, even if it means absorbing losses in the early years. For Comet, the challenge ahead will be to convert strong demand and brand recall into sustainable margins. As competition heats up in the sneaker and lifestyle segment, how efficiently the brand balances growth with cost control will determine its next phase.
