Wow Skin Science, a Bengaluru-based beauty and personal care brand, has reported a marked reduction in losses for the financial year ending March 2024, even as revenue dipped. The company’s focused cost-cutting measures led to a 22.4% drop in expenses, bringing total costs down to ₹377 crore from the previous year’s ₹486 crore.
The parent company, Body Cupid Pvt Ltd, recorded a 10% decrease in operating revenue, with earnings declining to ₹233.4 crore from ₹258.1 crore in the prior year. Despite this, Wow Skin Science managed to lower its net loss by nearly 40%, from ₹213.5 crore to ₹130.2 crore in 2023-24, according to data sourced from business intelligence firm Tofler.
Advertising and promotional spending notably fell to ₹107 crore from around ₹200 crore in 2022-23, aligning with the brand’s focus on expense reduction. However, investment in employee benefits increased by 35%, reaching ₹53.5 crore, as part of Wow Skin Science’s commitment to strengthening its workforce. “Our goal is to achieve sustainable growth, aiming for near break-even by the fourth quarter and full profitability by next year,” shared Manish Chowdhary, co-founder of Wow Skin Science. With adequate capital reserves, the brand feels confident in maintaining a strong financial trajectory in 2025.
Founded by Manish and Karan Chowdhary in 2014, Wow Skin Science offers a diverse range of products in skincare, haircare, bath, wellness, and nutrition. In 2022, the company secured $48 million in funding from GIC, Singapore’s sovereign wealth fund. Wow Skin Science competes with established brands like Nykaa, Mamaearth, and Sugar Cosmetics. Its expansion into the U.S. market, securing shelf space at retailers such as Walmart and CVS, showcases the brand’s aggressive global growth strategy.
Domestically, Wow Skin Science has experienced notable sales growth in modern trade and quick-commerce channels, leveraging platforms like Blinkit, Swiggy Instamart, and Zepto to reach customers faster. The brand is committed to expanding through these avenues while also innovating its product pipeline to include enhanced skincare and healthcare offerings.
In India’s booming beauty sector, other players such as Foxtale, Purplle, and MCaffeine continue to attract significant investments and drive revenue growth, with projections indicating that several brands may soon achieve ₹400-500 crore in revenue. The landscape for beauty and personal care is increasingly competitive as brands like Nykaa, Ajio, and Myntra rapidly scale their presence in the industry.
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