Wakefit.co crosses Rs 1,000 Cr revenue in FY24
Wakefit.co sees double-digit growth in the current financial year on the back of its latest product offerings, omnichannel expansion and brand building.
Mattress and seating solution provider Wakefit.co on Monday said it saw a 24% rise in its revenue to Rs 1,017 crore in the financial year ended March 2024 as it continues to remain bullish to post double-digit growth for the current year.
In FY 2024- 25, the company plans to focus on expanding its product categories, omnichannel expansion and brand building.
The D2C company also announced its return to EBITDA profitability, with an EBITDA of Rs 65 crore.
It also plans to double down on its omnichannel strategy citing higher AOV (average order value) and deeper brand engagement in offline channels. It now operates over 80 stores across 26 cities and plans to increase this to 120 stores steadily in the next six months.
“We are confident that our strategic focus on product category expansion, omnichannel retail growth, and continued brand building will help us sustain this momentum and drive double-digit growth in the coming year,” noted Chaitanya Ramalingegowda, Co-Founder and Director, Wakefit.co.
The company had rolled out two tech-backed offerings under its premium smart sleep solutions, Zense range in June. They initially started as a mattress maker but soon added furniture and home decor solutions, it now has over 100+ categories and 6000+ SKUs across channels.
(The headline has been updated)
Edited by Affirunisa Kankudti
