Bombay Shaving Company's marketing expenses rise 12% to Rs 40.2 crore in FY24: Report
The D2C brand has narrowed its net loss by nearly 23 percent to Rs 62 crore in FY 24 from Rs 80 crore in the previous year
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Personal care platform Bombay Shaving Company reportedly increased its marketing expenses by 11.6 percent in the fiscal year 2024. The Shantanu Deshpande-led firm spent Rs 40.2 crore in FY 24 compared to Rs 36 crore in FY 23. The advertising cost rose to Rs 85.90 crore.
The D2C brand has narrowed its net loss by nearly 23 percent to Rs 62 crore in FY 24 from Rs 80 crore in the previous year.
Overall, total expenses of the company increased to Rs 295.57 crore in FY 24 compared to Rs 262 crore in FY 23.
The company, which started as men's grooming platform, expanded into new categories subsequently. It registered a total revenue jumped to Rs 233.4 crore in FY 24 compared to Rs 182.4 crore in FY 23.
The Gurugram-based company's EBITDA margin improved to -26.1 percent in FY 24 from -46.4 percent in the previous fiscal year.
Recently, Deshpande slammed the food delivery industry's focus on quick delivery. He warned the companies of a potential health crisis due to the prevelance of processed and unhealthy food offered by Zomato and Swiggy that are prepared with read-to-made curries.
He urged the food delivery platforms to prioritize the nutritional quality of the food over speed.
"'Cook time 2 min, delivery time 8 min'...A 'qcom for food' founder told me this and I lost my mind. We are suffering from the biggest epidemic of poor nutrition and unhealthy processed and ultra processed food which is high on palm oil and sugar. Our grains have lost nutrition over last 50 years as we prioritized agricultural yield for nutrition. Our junk food addiction, fuelled by Rs 49 pizzas Rs 20 poison energy drinks, and Rs 30 burgers, is taking us down the path of China and the US without the economic cover needed for health. And now this. Frozen purees and curries and old vegetables heated and garnished with dhaniya to look fresh and slammed in some 2 wheeler who rides like Mad Max to your door in 10 min cos you couldn't wait another 15 min or you were too lazy to chadhao a cooker of daal chawal," Deshpande wrote on LinkedIn.
