Founded by IIM Ahmedabad Alumni Couple, D2C accessories brand Zouk Climbs 62% to Rs 127 Crore Revenue in FY25, Loss Widens to Rs 19.6 Crore

Zouk, a D2C bags and luggage brand, reported Rs 127 crore in revenue in FY25, reflecting a 62% year-on-year growth from Rs 78 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC). 

The company generated Rs 124.7 crore from operations (sale of products) and Rs 2.2 crore from other income in FY25, taking its total revenue to Rs 127 crore. The cost of materials consumed stood at Rs 58.5 crore in FY25, marking a 58% increase from Rs 37 crore in FY24. Employee benefit expenses rose to Rs 8 crore in FY25, compared to Rs 4.8 crore in FY24.

Advertisement and sale promotion expenses more than doubled to Rs 56.3 crore in FY25, up from Rs 24.5 crore in FY24. In line with the topline expansion, total expenses surged 80% to Rs 146.4 crore in FY25, compared to Rs 81.5 crore in FY24.

The company’s net loss widened 5.4X to Rs 19.6 crore in FY25, from Rs 3.6 crore in FY24. On a unit economics basis, Zouk spent Rs 1.17 to earn every rupee in FY25, compared to Rs 1.05 in FY24.

As on March 31, 2025, the company had total assets stood at Rs 113 crore including cash and cash equivalents of Rs 58.6 crore. Net cash flow from operating activities remained negative at Rs 32.4 crore in FY25.

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About Zouk

Zouk is an Indian direct-to-consumer (D2C) lifestyle brand specializing in handcrafted, cruelty-free, and vegan bags, wallets, and luggage. The brand is 100% PETA-approved vegan.

Zouk’s products are known for their vibrant, traditional Indian prints blended with modern, functional designs. The company primarily uses jute and high-quality vegan leather, positioning itself as both sustainable and animal-friendly.

Zouk was co-founded in 2016 by Disha Singh and Pradeep Krishnakumar, a husband-and-wife duo and alumni of the Indian Institute of Management (IIM) Ahmedabad.

The idea for Zouk was conceived when Disha visited the White Desert of Kutch in Gujarat, a region renowned for its handicrafts. While her IIM Ahmedabad batchmates enthusiastically took photographs for Instagram, they refrained from purchasing the products, citing a lack of alignment with modern sensibilities.

This highlighted a clear market gap for stylish, functional products that retained an authentic Indian essence while appealing to contemporary tastes, thus giving birth to Zouk.

Zouk’s products are available on its official website and app, as well as leading Indian e-commerce platforms such as Amazon, Myntra, and Flipkart.

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