CosmicTaco

Wakefit's Revenue Soars 25%, Losses Drop 90% in FY24

CosmicTaco · 2024-09-30T18:38:37.088003+05:30

- Wakefit's FY24 revenue increased by 24% to Rs 1,017 crore, with losses down by 90%. - Majority of sales, around 65-70%, come from physical stores and its website, while 30-35% from e-commerce platforms. - The company expects a 30% revenue increase in FY25 to Rs 1,320-Rs 1,400 crore. - Wakefit plans to expand product categories, strengthen its omnichannel presence, and improve brand visibility. - The company has raised around $150 million in funding from investors including PeakXV, Verlinvest, SIG, Investcorp, and Elevation Capital. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/startup/wakefit-fy24-revenue-rises-25-to-rs-1017-crore-losses-down-90-12832178.html)

Wakefit's FY24 revenue increased by 24% to Rs 1,017 crore, with losses down by 90%.
Majority of sales, around 65-70%, come from physical stores and its website, while 30-35% from e-commerce platforms.
The company expects a 30% revenue increase in FY25 to Rs 1,320-Rs 1,400 crore.
Wakefit plans to expand product categories, strengthen its omnichannel presence, and improve brand visibility.
The company has raised around $150 million in funding from investors including PeakXV, Verlinvest, SIG, Investcorp, and Elevation Capital. Source: Moneycontrol