Hyphen, the D2C skincare startup backed by Kriti Sanon, has reported strong financial growth, recording Rs 50.4 crore in revenue in FY25, a sharp rise from Rs 7.6 crore in FY24, marking a nearly 6.6x increase year-on-year.
The surge highlights the rising traction of direct-to-consumer skincare brands in India, where emerging beauty startups are rapidly scaling within the expanding digital-first market. Hyphen’s rapid growth positions it among the faster-growing players in the D2C beauty space and reflects broader industry trends where brands leverage influencer marketing, community building, and omnichannel strategies to attract customers.
Despite the revenue jump, the company also significantly increased its spending to support expansion. Total expenses climbed to Rs 63.3 crore in FY25, compared to Rs 14.8 crore in FY24, as the brand invested in marketing, operations, and product supply to sustain demand.
A significant share of the spending was directed toward product manufacturing and raw materials, which accounted for Rs 19.2 crore, or about 30 percent of overall expenses. The increase reflects higher sales volumes and growing demand for the brand’s skincare range.
However, the largest expenditure came from advertising and sales promotion, which represented 43 percent of total costs, reaching Rs 27.12 crore in FY25. This underscores the importance of influencer collaborations, digital campaigns, and storytelling in building visibility within India’s highly competitive D2C beauty sector.
As a result of aggressive investments in growth, Hyphen’s net loss widened by 80 percent to Rs 12.9 crore in FY25. At the same time, the company has shown improved operational efficiency. For every rupee earned in FY25, Hyphen spent Rs 1.26, compared with Rs 1.97 in FY24, indicating better cost management as the business scales.
Launched in July 2023, Hyphen was introduced with the backing of Kriti Sanon and the team behind mCaffeine. The brand aims to blend nature and science to create accessible and effective skincare solutions for Indian consumers.
Its product range—priced between Rs 300 and Rs 800—targets young, digital-first shoppers and includes sunscreens, serums, moisturizers, cleansers, and lip balms formulated with ingredients such as niacinamide and vitamin C, designed to address common skincare concerns.
Sustainability also remains a key focus for the brand. Hyphen’s products are vegan, cruelty-free, and developed with an emphasis on minimizing plastic waste, aligning with growing consumer demand for responsible and eco-conscious beauty solutions.
The company distributes its products through its own website as well as leading e-commerce platforms such as Amazon and Nykaa, allowing it to expand its reach through a combination of direct sales and online marketplaces.
Hyphen’s strong performance also reflects the growing momentum of celebrity-backed D2C startups and digital-first skincare brands in India. As the beauty market continues to evolve, brands that combine strong storytelling, science-driven formulations, and diversified sales channels are expected to capture increasing consumer attention.
