Neeman’s revenue jumps 73% to ₹180 crore in FY26, losses narrow 30%
Neeman’s, an Indian direct-to-consumer footwear brand, grew its revenue 73% to ₹180 crore in FY26 while cutting losses by 30.4% to ₹16 crore. For the first time, its costs rose slower than its sales—a turning point for the company as it scales.
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30 SEC SUMMARY
- Neeman’s, an Indian D2C footwear brand, grew its revenue 73% to ₹180 crore in FY26 while shrinking losses by 30.4% to ₹16 crore.
- For the first time, the company’s costs rose slower than its sales—a milestone in its shift toward profitability.
- Material costs climbed 58% to ₹76 crore, now claiming 38% of total expenses, as production ramps up to meet demand.
- Marketing and employee costs also rose, but disciplined spending kept overall expense growth below revenue growth.
- Neeman’s has raised $17 million from investors like Grand Anicut and Sharrp Ventures, competing directly with Nike and Adidas.
- Rivals Comet and Gully Labs are also raising funds, signaling strong investor interest in India’s sneaker market.
TABLE OF CONTENTS
- Revenue climbs 73% as sales outpace costs
- Losses shrink as spending discipline pays off
- Costs rise as production scales up
- How Neeman’s built a D2C footwear brand
- Competition intensifies in India’s sneaker market
- Neeman’s financials set a benchmark for D2C footwear
- What this means
- Key takeaways
- Sources
Revenue climbs 73% as sales outpace costs
Neeman’s, an Indian direct-to-consumer footwear brand, reported a 73% year-on-year revenue surge to ₹180 crore in FY26, up from ₹104 crore in FY25, according to its annual financial statements filed with Entrackr. Total income reached ₹183 crore after adding ₹3 crore from net gains on investments.
Losses shrink as spending discipline pays off
Neeman’s trimmed its net loss by 30.4% to ₹16 crore in FY26, down from ₹23 crore the year before. Total spending rose 53.1% to ₹199 crore, but for the first time, expenses grew slower than revenue. The company now spends ₹1.11 to earn every rupee of operating revenue, down from higher ratios in previous years.
Its return on capital employed improved to -28.46%, while its EBITDA margin reached -7.21%, both signs of tightening financial discipline.
Costs rise as production scales up
Material costs jumped 58.3% to ₹76 crore in FY26, making up 38% of Neeman’s total expenses—up from ₹48 crore in FY25. Employee benefits cost ₹19.43 crore, while advertising and marketing expenses rose 57.1% to ₹45 crore. These increases reflect the company’s push to scale in a market dominated by global brands like Nike, Adidas, and Puma.
How Neeman’s built a D2C footwear brand
Neeman’s was founded in 2017 by Taranjeet Singh Chhabra and Amar Preet Singh. The brand sells directly to consumers, focusing on comfortable, sustainable footwear. Its product line includes sneakers, loafers, flip-flops, slides, and sandals. To date, it has raised $17 million from investors including Grand Anicut and Sharrp Ventures.
Competition intensifies in India’s sneaker market
India’s sneaker market is heating up. Comet recently secured ₹100 crore in a funding round led by Verlinvest, while Gully Labs has launched its Series A. Neeman’s is part of this wave, betting on younger consumers’ growing appetite for sneakers. The challenge now is turning one-time buyers into repeat customers.
Neeman’s financials set a benchmark for D2C footwear
Earlier Lazyfounder reporting showed Indian D2C brands using experiential retail to stand out in crowded markets. Neeman’s latest financials prove that even online-first brands can improve unit economics by keeping cost growth below revenue growth. The trend could set a new benchmark for founders pitching investors in the footwear space.
What this means
Lazyfounder analysis — our interpretation, not reported fact.
Neeman’s FY26 numbers signal that a homegrown D2C footwear brand can scale without burning cash at the same rate—something investors will watch closely in future funding rounds for similar companies.
Key takeaways
- Neeman’s grew revenue 73% while cutting losses by 30%, a rare balance for a D2C footwear startup in India.
- The company now spends ₹1.11 to earn every rupee, a benchmark for efficiency in the sector.
- Material costs at 38% of total spend reveal the pressure of scaling sustainably—a challenge for competitors.
- With Comet and Gully Labs also raising capital, the bar for unit economics in India’s sneaker market is rising.
Related on Lazyfounder
Sources
- Entrackr · 2026-11-12
Neeman’s revenue jumps 73% to Rs 180 Cr in FY26, losses narrow 30%
This story is an original summary drafted with AI by Lazyfounder from the reporting listed above and checked by automated validation. Facts are attributed to their original publishers; sections marked as analysis are Lazyfounder's. Where a source is in another language, facts were machine-translated and quotations are reported, not reproduced. Read the original coverage via the links, and see our AI policy and corrections policy.
About the author
Editor, Lazyfounder
Tarun Mottlia edits LazyFounders, covering Indian startups, funding rounds, AI and product launches. Every story on the site is AI-assisted and checked against its cited sources before publication.
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