Bengaluru: ReshaMandi – one of the largest farm-to-fashion digital ecosystem for natural fibres in India – recorded a 3x increase in revenues so far in FY 2022-23 at ₹1248.3 crores. While they aim to close FY23 at 5x revenue growth from last year, the Company reached EBITDA profitability in Q3 of FY 2022-23 and plans to become net profit positive in the next two quarters.
Moving forward, it intends to grow internationally by entering the US and Europe. Besides its present offerings in silk, cotton, viscose and linen (both national and international), ReshaMandi aims at broadening its focus in natural fabrics to include materials such as wool, jute and blends while experimenting with categories such as sisal and banana.
The Company’s revenue increased by 1,909% between FY2021 and FY2022 to ₹413.8 crores, and by 302% so far in the three quarters of FY 2022-23 to ₹1248.3 crores. Going forward, ReshaMandi anticipates that 55% of future revenues (based on the revenue projections for the next 5 years) will come from weaves, while 25% will be from farms, and 20% from yarns. ReshaMandi works with 100,000+ farmers, 10,000+ reelers, 17,500+ weavers, and 18500+ retailers in the entire natural fibre supply chain to improve productivity, boost their bottom line and eventually be instrumental in transforming the quality of their lives.
