Analysis · Commerce & Consumer Brands

XYXX and DaMENSCH post wider losses in FY25

By Startup Enthusiast · 30 March 2026

What they do

XYXX sells men's innerwear and comfort wear through its own website and online marketplaces

In FY25, XYXX's revenue rose 46% to Rs 187 crore, while DaMENSCH grew 34% to Rs 118 crore

Both firms remain loss-making, with XYXX's net loss at Rs 25.5 crore and DaMENSCH's at Rs 57 crore; higher advertising and raw material costs drove…

XYXX and DaMENSCH, two men's innerwear and comfort wear brands, released their financial results for FY25.
XYXX's operating revenue grew 46% to Rs 187 crore in FY25, up from Rs 128 crore in FY24.
DaMENSCH's operating revenue rose 34% to Rs 118 crore in FY25, from Rs 88 crore in FY24.
DaMENSCH's operating revenue rose 34% to Rs 118 crore in FY25, from Rs 88 crore in FY24.
DaMENSCH's net loss fell marginally to Rs 57 crore in FY25, from Rs 60 crore in FY24.
XYXX spent Rs 50 crore on advertising in FY25, nearly double DaMENSCH's Rs 27.5 crore.
Raw material costs were Rs 99 crore for XYXX and Rs 69.5 crore for DaMENSCH in FY25.
Both companies remain loss-making, with expense-to-revenue ratios above 1.

The results show that even as revenue grows, both brands are still spending more than they earn.
XYXX's higher advertising spend helped it grow faster but also kept costs high.
DaMENSCH's larger net loss despite lower revenue suggests weaker cost control.
The innerwear market is competitive, with players like Bummer and Jockey also vying for customers.
Profitability is expected only when growth moderates, making the coming period critical.

XYXX sells men's innerwear and comfort wear, including briefs, trunks, and loungewear.
DaMENSCH also sells men's innerwear and comfort wear, focusing on premium basics.
Both brands operate as direct-to-consumer (D2C) companies, selling mainly through their own websites and online marketplaces.
XYXX's revenue in FY25 was nearly 1.6 times DaMENSCH's revenue.
XYXX's raw material costs were Rs 99 crore, while DaMENSCH's were Rs 69.5 crore in FY25.
Advertising is a major expense for both, with XYXX spending Rs 50 crore and DaMENSCH Rs 27.5 crore in FY25.
Employee benefit expenses were Rs 26 crore for XYXX and Rs 29 crore for DaMENSCH in FY25.
Commission expenses for both companies ranged between Rs 14 crore and Rs 18 crore in FY25.
XYXX had current assets of Rs 161 crore, while DaMENSCH had Rs 66 crore at the end of FY25.

Profitability is expected only when growth moderates, according to the report.
The coming period is described as make-or-break for startup players in this space.

Product: Men's innerwear, loungewear, and athleisure products.
Customers: Men buying premium innerwear and comfortwear.
How it makes money: Sells directly through its own website, ecommerce marketplaces, and offline retail touchpoints.
What sets it apart: Positions products around premium fabrics and technology-led comfort features.
Operations: Combines online sales with multi-brand outlets and exclusive brand outlets across 150+ cities.