Backed by actress-turned-entrepreneur Parineeti Chopra, Clensta’s revenue in the first quarter of the 2024 fiscal grew around 41% over the previous quarter
New Delhi: Personal care brand Clensta reported a 100% growth in its net revenue with the gross merchandise Value (GMV) at Rs 47.75 crore during the first quarter (Q1) of the financial year (FY) 2024, up from Rs 25.86 crore it clocked in the corresponding quarter of FY2023, the company announced in a release on Thursday.
Backed by actress-turned-entrepreneur Parineeti Chopra, Clensta’s revenue in the first quarter of the 2024 fiscal grew around 41% over the previous quarter, reflecting a strong and stable upward trajectory for the start-up brand. The company successfully brought down its EBITDA losses by nearly 80% in Q1 FY2024 over the previous quarter.
“Our 100% revenue growth validates the hard work and effort we’ve put in to build a responsible and sustainable brand on a strong and table foundation,” Puneet Gupta, founder, Clensta said.
“Our aggressive marketing strategy has finally paid off as Clensta is now on the radar of a larger and more diverse customer base. We look forward to continuing this upward graph as we expand and grow the business this year both in India and globally,” he added.
The brand’s Contribution Margin 3 or CM3 turned positive at 10% in Q1 FY24 from a negative -3% in Q4 FY23, signifying improved operational efficiency and scaling of manpower. The Return on Advertising Spend (ROAS) touched 2.44 in Q1 FY24, up 15% from the previous quarter.
Other factors that contributed to the results of this quarter were a 35% reduction in logistics costs compared to the previous quarter accompanied with a 22% reduction in Selling, General, and Administrative (SGA) expenses.
Clensta recently joined hands with actress Parineeti Chopra who joined the team as an investor, partner and brand ambassador. Since its inception, Clensta has secured funding from investors like IAN and IAN Fund, IPV, VCats and Hem Securities. In its most recent pre-Series B round of funding, Clensta raised Rs 75 crore from investors led by TradeCred and co-led by the Royal Family of the UAE.
The Gurgaon-headquartered direct-to-consumer brand Clensta International Pvt Ltd was founded in 2016 by Puneet Gupta and the products were commercialized in 2019. Clensta pioneered the waterless hygiene technology in India launching a range of zero-water personal-care products. Clensta has horizontally scaled into multi category personal care products.
Its products are currently available on Amazon, Nykaa, Flipkart along with 20 other marketplaces as well as 5000 GT/MT touchpoints across India and have plans to expand its offline presence into over 50 cities.