BlissClub’s Rapid Growth Signals Momentum in India’s D2C Activewear Market

Bengaluru-based women’s activewear startup BlissClub is emerging as one of the fastest-growing brands in India’s direct-to-consumer (D2C) apparel segment. Founded in 2020 by entrepreneur Minu Margeret, the company focuses on women-centric “movementwear” designed for comfort, flexibility, and everyday active lifestyles. In recent years, the startup has shown strong revenue growth while gradually improving its financial efficiency, signaling maturity in the competitive athleisure market. Strong Revenue Growth with Improving Financials BlissClub has reported steady growth in its financial performance over the past few years. According to recent financial disclosures, the company recorded ₹131–135 crore in revenue for FY25, marking a significant increase from ₹87–92 crore in FY24, representing roughly 50% annual growth. Despite remaining loss-making, the company has improved its profitability metrics. BlissClub reduced its net loss to about ₹20 crore in FY25, nearly halving the ₹44 crore loss reported in FY24. The improvement suggests tighter cost controls and better operational efficiency as the brand scales. Total expenses in FY25 stood at approximately ₹155.5 crore, rising moderately compared to FY24’s ₹136 crore. A large portion of the cost structure is tied to raw materials, manufacturing, and marketing spend, reflecting the nature of consumer apparel startups where brand building and product development are significant investments. The company has also achieved a revenue run-rate of around ₹250 crore, indicating accelerating demand and strong growth momentum heading into future financial years. Business Model: Women-Focused D2C Brand BlissClub operates primarily on a direct-to-consumer e-commerce model, selling products through its own website and select online marketplaces. The brand generates the majority of its revenue from women’s activewear products such as leggings, joggers, sportswear, and accessories. A key strategic element of its model is owning the customer relationship through its website, which accounts for a large share of its sales. This allows the company to maintain higher margins and gather direct customer insights. Additionally, the startup has built a loyal community around its brand, with a significant portion of revenue coming from repeat customers. More recently, BlissClub has begun expanding into offline retail stores, recognizing that apparel purchases often depend on the “touch and feel” experience. Physical retail outlets allow customers to try products before purchasing, strengthening brand engagement and conversion rates. Funding and Expansion Strategy BlissClub has raised over $20–26 million in funding from investors such as Elevation Capital and Eight Roads Ventures, positioning the startup in the Pre-Series B stage. The company is also reportedly exploring a new $25 million funding round to accelerate expansion and strengthen its offline retail footprint. Competitive Landscape and Future Outlook The Indian athleisure market is becoming increasingly competitive, with brands such as HRX, Cultsport, Decathlon’s Domyos, and several emerging D2C startups targeting similar segments. However, BlissClub differentiates itself by focusing exclusively on women’s comfort-first activewear and building a community-driven brand identity. With revenue scaling rapidly and losses narrowing, BlissClub appears to be transitioning from an early-stage growth startup to a more sustainable consumer brand. If it continues to optimize supply chains, expand retail channels, and maintain strong customer loyalty, the company could position itself as a leading “Lululemon-style” brand in India’s growing athleisure market.