D2C brand Earth Rhythm touched a revenue of Rs 26.02 crores in FY23. Subsequently, its expenses hiked to Rs 46.13 crore with losses amounting to Rs 16.53 crore the same fiscal year. While the beauty and wellness brand saw a hike in revenue as compared to the Rs 18.6 crore it recorded in FY22, it also witnessed an equal surge in expense and losses as compared to Rs 23.9 crore and Rs 4.3 crore recorded respectively.
Currently valued over Rs 210 crore, the Gurgaon-based company saw a majority of its revenue coming in from operations. As for expenses, other expenses and advertisement and promotional costs took up the top two spots for expenses of FY23.
Earth Rhythm is a D2C beauty and wellness brand that produces and sells a range of skincare, haircare, and body care products. It’s in house chemists conducts independent clinical trials and research of the products it offers.
Founded in 2020 by Harini Sivakumar, the company has raised close to Rs 70 crore over two funding rounds. Its latest round was held on April 2022 and saw participation from Nykaa and Anicut Capital. It previously raised over Rs 9 crore in a round held in 2021.
While CEO and co-founder of the company Harini Sivakumar holds over 25% of the company shares, COO Sivakumar Varadarajan, and Anicut Capital have control over 20% of the company shares.
The skincare brand currently compete with companies like Mumbai-based Mcaffeine and Asa Beauty, Delhi-based Nature Tattva, and Coimbatore-based Vilvah Store.