Wellness brand Fitspire grows 3.3X in scale in FY23
Delhi-based fitness brand Fitspire achieved significant growth, with FY23 revenue reaching Rs 3.36 crore, a 3.3X increase from the previous year. Despite losses amounting to Rs 2 crore, the company expanded its product range, focusing on sports nutrition and bodybuilding supplements for all age groups. FY23 expenses soared to Rs 5.6 crore, attributed to high advertising and material costs. Despite fundraising efforts and leadership stakes, the company reported negative EBITDA margin (-65.12%) and ROCE (-50.58%).
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