Home and lifestyle brand Chumbak’s revenue jumped almost 8% to Rs 71.13 crore in the fiscal year ending March 2023 as compared to the preceding year’s Rs 66 crore.
Headquartered in Bengaluru, Chumbak is an omnichannel home and lifestyle brand that deals in categories such as home décor, fashion, accessories, and personal care. Founded by Shubhra Chadda and Vivek Prabhakar, Chumbak is currently present in over 50 stores across 20 cities with an employee count of 250.
Operations contributed over Rs 58 crore in the last fiscal year, a 10% drop from FY22’s Rs 65 crore the company saw coming in from operations.
Since its incorporation in 2010, the company has raised close to Rs 250 crore over 14 rounds. Its latest round held in September 2022 raked in Rs 2.9 crore from revenue-based financing platform Klub. It has previously received investment from the likes of Gaja capital and Matrix Partners.
In early 2023, e-commerce roll up firm G.O.A.T Brand Labs acquired five D2C brands, including Chumbak with plans to grow the company to Rs 500 crore by 2025.
Its’s overall expenditure for the fiscal year dropped 23% to Rs 77.7 crore as compared to the previous Rs 100.8 crore. While over Rs 20 crore and Rs 12 crore was spent on materials and employee benefits respectively, the advertisement and promotional charges cost more than Rs 5 crore.
Chumbak’s losses shrunk 81% to Rs 6.5 crore in FY23. Its losses had previously amounted to Rs 34.8 crore in the preceding fiscal. The year saw both its EBITDA margin and ROCE improving to -5.18% and -25.11% respectively.