Renee Cosmetics Sees Remarkable Growth in Revenue

Renee Cosmetics has achieved a notable 4.4X increase in operating revenue over the past three fiscal years, rising from nearly Rs 100 crore in FY23 to Rs 440 crore in FY26, according to an internal document reviewed by Startup Superb. The revenue from operations experienced a year-on-year growth of 37%, soaring from Rs 321 crore in FY25 to Rs 440 crore in FY26.

Drivers of Revenue Growth

This impressive growth can be attributed to the company’s expansion into offline retail and quick commerce channels, coupled with new product launches in the colour cosmetics and skincare segments.

Financial Performance Indicators

As per the internal document, Renee Cosmetics reported an EBITDA loss of Rs 36 crore in FY26, an improvement from a loss of Rs 66 crore in the previous fiscal year. The net loss before tax also saw a reduction of 45%, dropping to Rs 36.4 crore from Rs 66.1 crore in FY25.

The company maintained a gross margin of 75% in FY26, consistent with the prior year. In terms of expenses, employee benefit costs remained stable at Rs 44.8 crore, while sales and promotional expenses increased by 38%, from Rs 159 crore in FY25 to Rs 220 crore in FY26. The profit before tax (PBT) margin also significantly improved from -21% in the previous fiscal to -8% in FY26.

Marketing and Customer Acquisition Strategies

Internal documents indicate that the company continued to invest heavily in marketing and customer acquisition while also working to enhance operational efficiency. Sales and promotional expenses made up nearly half of Renee’s total revenue during this period.

Product Offerings and Competitive Landscape

Renee, founded by Ashutosh Valani, Priyank Shah, and Aashka Goradia, provides a diverse array of beauty and personal care items, including eye makeup, lip colours, skin serums, and highlighters. The company has successfully raised over $46 million from various investors, including Evolvence India, Edelweiss Group, Equanimity, and 100 Unicorns.

In India’s rapidly evolving beauty and personal care market, Renee faces competition from brands such as Sugar Cosmetics, MyGlamm, Mamaearth, and Pilgrim. The company’s strategy includes expanding its offline presence and enhancing distribution in Tier II and Tier III cities, as well as targeting growth in strategic product categories.