eské recorded a 21% increase in revenue in FY24, reaching Rs 10.3 crore compared to Rs 8.5 crore in FY23. However, the company’s net loss widened to Rs 5.6 crore in FY24 from Rs 2.4 crore in FY23, marking a 2.3x increase.
Founded in 2012 and headquartered in Mumbai, eské is a premium handcrafted leather goods brand offering wallets, totes, laptop bags, and handbags. With products designed in Paris and made by skilled Indian artisans, eské blends European aesthetics with everyday functionality. The brand operates in the e-commerce space, focusing on travel-friendly and timeless leather accessories for men and women.
Expenses grew by 45% in FY24, rising to Rs 15.9 crore from Rs 11 crore in FY23. Employee benefit costs accounted for 12% of total expenses in FY24, down from 13.8% in FY23. Advertisement costs rose to 29% of expenses in FY24 from 25.7% in FY23, indicating intensified brand marketing efforts. Cost of materials decreased to 27.7% of expenses from 38% in FY23.
eské’s EBITDA margin declined to -54.05% in FY24, compared to -27.89% in FY23. Return on Capital Employed (ROCE) further deteriorated to -342.03% in FY24 from -170.84% in FY23.
The company has raised a total of Rs 20 crore in funding over three rounds, with the most recent round being a pre-Series A in October 2024. Founder Shivam Sanjay Khanna holds 52.51% equity, with 7.56% allocated to the ESOP pool.