D2C footwear brand Neeman's reports FY26 revenue up 73% to Rs 180 crore, loss narrows

Neeman’s reported a 73% year-on-year increase in revenue from operations to Rs 180 crore in FY26, compared with Rs 104 crore in FY25, according to its annual financial statements reviewed by Entrackr.

The sale of footwear remains its only source of operating revenue. The company also earned around Rs 3 crore, largely through net gains on investments, which took total income to Rs 183 crore in FY26 from Rs 107 crore in the previous fiscal.

Overall expenditure rose 53.1% to Rs 199 crore. Because that grew more slowly than revenue, the company’s loss narrowed 30.4% to Rs 16 crore in FY26, from Rs 23 crore in the previous fiscal. Its EBITDA margin improved to -7.21%.

Founded in 2017 by Taranjeet Singh Chhabra and Amar Preet Singh, Neeman’s follows a direct-to-consumer (D2C) model. It focuses on comfortable footwear made using sustainable materials, and its portfolio now includes sneakers, loafers, flip-flops, slides and sandals.

Sneaker culture is gaining traction among Indian consumers in a market that has been dominated by global brands such as Nike, Adidas and Puma. Brands such as Neeman’s, Comet, Gully Labs and Snitch are entering the space with distinct designs, pricing and brand identities.

The shift has also caught investors’ attention. Neeman’s has raised around $17 million in funding to date, with investors such as Grand Anicut and Sharrp Ventures. Comet recently secured Rs 100 crore in a round led by Verlinvest, while Gully Labs kicked off its Series A round this year.

The challenge for these brands will be to convert first-time buyers into repeat customers, maintain product relevance and build viable economics as competition increases.