Top D2C Brands in India: an overview
India's direct-to-consumer (D2C) brands typically start by selling through their own websites and apps before adding marketplaces and physical stores. A number of them have now reached the public markets: Mamaearth parent Honasa Consumer listed on the NSE and BSE in November 2023, Lenskart debuted on both exchanges on 10 November 2025, BlueStone listed in August 2025 and Wakefit followed in December 2025. boAt parent Imagine Marketing filed updated IPO papers for a ₹1,500 crore issue in October 2025.
The category spans several consumer segments. Beauty and personal care is the most crowded, with brands such as Mamaearth, SUGAR Cosmetics, Plum, mCaffeine and WOW Skin Science. Consumer electronics is led by boAt and Noise, which began by selling phone accessories before moving into smartwatches and wireless audio. Sleep and home brands such as Wakefit and The Sleep Company compete in mattresses and furniture, while Licious, founded in 2015, built a farm-to-fork model for meat and seafood.
Many D2C companies are now investing in offline retail. The Sleep Company raised about ₹480 crore in 2025 to add 130–150 stores to its network, and BlueStone reported 275 stores across 117 cities as of March 2025. The sector has also seen consolidation, with Aditya Birla Fashion and Retail's digital-brands arm completing the acquisition of a majority stake in apparel brand Bewakoof in February 2023.