Underneat hits Rs 200 cr ARR in year one, plots offline retail entry
Kusha Kapila-backed D2C shapewear label Underneat has crossed Rs 200 crore ARR within 12 months of its April 2025 launch, selling 9 lakh units to 6.5 lakh customers at 93% CSAT. Founders now plan offline stores and marketplace tie-ups, using D2C data to guide assortment.
D2C shapewear brand Underneat, co-founded by Kusha Kapila and Vimarsh Razdan, hit Rs 200 crore ARR within 12 months of its April 2025 launch and plans offline retail expansion via stores and marketplace partnerships, guided by D2C consumer data.
Why this matters
Underneat's year-one Rs 200 cr ARR places it among the fastest-scaling D2C innerwear brands, and the offline push signals a shift from pure online to omnichannel distribution.
Retail-brand signals steady at 1,910 over the last 90 days.