BlissClub reports double digit increase in both revenue and losses in FY23

Active wear brand BlissClub reported that its operating revenue increased more than fourfold in the 2023 financial year to total Rs 68 crore. However, the direct to customer business’ losses also rose by a similar amount last fiscal to total Rs 36 crore.

In the 2022 financial year, BlissClub’s operating revenue had totalled Rs 15 crore and its losses were at Rs 9 crore, ET Tech reported. During the 2023 financial year, which ended on March 31, 2023, the business embraced an omni-channel expansion strategy and invested in offline retail. 
 
This year, BlissClub opened brick-and-mortar stores in locations including Mumbai and Bengaluru. In February 2023, the brand announced its plans to open 20 brick-and-mortar outlets in the coming year. By expanding offline, the business aims to connect with shoppers in person to receive feedback and build connections. The brand has focused on opening company owned and operated stores to enable it to have full control over the stores. 

Along with expanding its brick-and-mortar footprint this year, BlissClub also expanded its product categories. The brand has expanded its range of sports bras and retails a wide range of plus size garments, according to its Facebook page. The brand continues to promote an active lifestyle and body positivity through its campaigns.