Results · Commerce & Consumer Brands

Pilgrim revenue jumps 24X to ₹400 crore

By Startup Enthusiast · 7 February 2026

What they do

Pilgrim is a beauty and personal care brand with globally inspired formulations made in India

Its revenue surged from ₹17 crore in FY24 to ₹400 crore in FY25, and it is on track to hit ₹600 crore by FY26

The growth stands out as rival D2C brands like Sugar Cosmetics and WOW Skin Science have seen revenue declines

Pilgrim's revenue grew 24 times from ₹17 crore in FY24 to ₹400 crore in FY25.
The company is on track to breach ₹600 crore revenue by the end of FY26.
Pilgrim launched in March 2020, just as India's lockdown began, and its first month sales were ₹5 lakh.
By the end of 2020, monthly sales reached ₹20 lakh.
The brand made a strategic push into offline retail in 2023.
Pilgrim targets millennial 'conscious consumers' with filters: good for me (transparent ingredients), good for society (cruelty-free), and good for planet (sustainability).

The Indian beauty and personal care (BPC) market is estimated at $31 billion and is crowded with giants like Marico, Hindustan Unilever, and L'Oreal.
Several D2C competitors are slowing down: Sugar Cosmetics' revenue slipped 21% YoY in FY25 to ₹398 crore.
Juicy Chemistry revenue fell to ₹19 crore in FY25 from ₹20 crore the previous year.
WOW Skin Science revenue declined 9% YoY in FY24.
Pilgrim's rapid growth contrasts with the slowdown of its D2C peers.

Pilgrim is a beauty and personal care brand that uses globally inspired formulations manufactured locally in India.
It launched with 10-12 SKUs inspired by Korean beauty.
Product ranges include Korean beauty-inspired (launch), French vinotherapy (grape-based, launched FY21), and vegan skincare with Spanish squalene (launched FY23).
The company uses third-party manufacturing partners in India.
Pilgrim targets millennial 'conscious consumers' with transparent ingredients, cruelty-free products, and sustainability.

Fireside Ventures (lead) — Fireside Ventures is a venture capital firm that led Pilgrim's first institutional funding round.
Rukam Capital (participated) — Rukam Capital participated in Pilgrim's first institutional funding round.
Founders of boAt and NoBroker (participated) — The founders of boAt and NoBroker participated in Pilgrim's first institutional funding round.

Product: Over 90 SKUs across skincare, hair care, face care, fragrances, and colour cosmetics
Customers: Consumers seeking premium beauty and personal care products across India
How it makes money: D2C beauty brand with online profitability expanding to offline omnichannel presence
What sets it apart: Profitable online model with strong offline expansion and R&D capabilities