Mumbai-based e-commerce startup Macmerise Celfie Design witnessed a twofold growth in scale in the last fiscal year to Rs 14.1 crore as compared to the preceding year’s Rs 7.5 crore.
Established by Sahil Shah and Mallika Kapur Satia, it is an apparel and electronics companies which sells through 35-plus stores including the likes of Hamleys, Reliance Digital, Cred and others and online marketplaces such as Amazon, Flipkart, Myntra etc. It leverages its already existing supply chain across India, China, and the UAE along with existing celebrity partnerships and collaborations.
The decade old company has raised about Rs 8 crore in its maiden round in March 2022 from the likes of Inflection Point Ventures, Amitabh Bachchan, Tarun Katial, NAFA Capital Advisors, and Ajmera Realty.
In terms of expenses, it saw a 70% rise to Rs 17.7 crore in FY23 in compression to its receding fiscal’s Rs 10.4 crore. While materials cost over Rs 11 crore, employee benefits and advertisement and promotional costs took up over Rs 2 crore and close to Rs 80 lakhs the same year.
The Mumbai-based company’s losses widened 1.2X from Fy22’s Rs 2.9 crore. Its EBITDA margin and ROCE stood at -24.38% and -134.44% respectively.