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The Souled Store grows FY22 revenue 82% to Rs 145 crore

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The Souled Store logo
Date
Company
The Souled Store
What it does
FY22 results
Kind
Results
Amount
Rs 145.1 crore revenue
Based in
Mumbai
Founded
2013

What they do

Revenue from operations rose 82% to Rs 145.1 crore in FY22, up from Rs 79.6 crore a year earlier, filings showed

What happened

The brand said it works with more than 150 franchise partners and sells T-shirts, phone covers, mugs, notebooks and more

Why it matters

During its Series C it claimed an annual revenue run rate of Rs 450 crore, to be tested by later filings

The details

  • FY22 revenue: Rs 145.1 crore.
  • FY21 revenue: Rs 79.6 crore.
  • Growth: 82%.
  • Over 150 franchisees.
  • Claimed run rate: Rs 450 crore.

The bigger picture

  • It showed fast growth on little outside money.
  • It set a base for the jumps in FY23 and FY24.
  • Run-rate claims are often higher than yearly results.

About the business

  • The Souled Store makes and sells pop-culture clothing and merchandise under licences such as Marvel, Naruto and One Piece.
  • Most sales come through its own website and app, with a growing chain of stores across India.
  • It holds over 200 licences and also sells casual wear, footwear and accessories.

Founders

  • Vedang Patel, Co-founder and CEO
  • Rohin Samtaney, Co-founder
  • Harsh Lal, Co-founder
  • Aditya Sharma, Co-founder

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