Sublime Life, a D2C beauty and personal care brand, saw its revenue drop by 54% in FY24, declining from Rs 6.7 crore in FY23 to Rs 3.02 crore.
Founded in 2019 by Deep Lalvani, the company curates a range of cruelty-free products, including skincare, hair care, makeup, body, and wellness items. Their offerings feature international brands like Martiderm and Faith in Nature, alongside homegrown brands such as Juicy Chemistry, Mom’s Co, Dr. Sheth’s, and Bare Necessities.
The Gurugram-based beauty brand has raised a total of Rs 14.97 crore in funding over 1 round, held in February 2022 led by Roots Ventures. Its current valuation exceeds Rs 35 crore.
Competing with brands like Mamaearth and Plum, Ador Multiproducts Limited holds over 50% of Sublime Life’s shares, followed by JB Advani and Root Ventures who are also key stakeholders in the company.
Along with revenue, the company’s expenses also dropped to Rs 4.94 crore in FY24 from over Rs 10 crore in FY23. The cost of materials accounted for the largest share of these expenses at above 50%, followed by significant costs related to employee benefits, advertisements, and legal and professional fees.
The D2C brand turned profitable in FY24 recording a profit of Rs 1.17 crore compared to the loss of over Rs 5 crore in FY23.
Sublime Life’s current EBITDA margin and ROCE improved to -50.06%% and -69.66% respectively.