MAM
Fitspire enters into $17 bn vegan skincare market
Mumbai: Fitspire, a leading vegan and plant-based personal wellness brand, is set to disrupt the $17 billion global skincare market by launching plant-based Biotin, Collagen, and Omega products.
The entry into the category caters to the burgeoning demand for cruelty-free skin-care products in India. Besides, Fitspire aims to enhance its position as a one-stop solution for Indian consumers seeking a complete range of vegan, natural, clean, and cruelty-free products to support their fit and healthy lifestyle.
Founded by IIM Lucknow alumni Vipen Jain in 2020, Fitspire offers over 80 vegan products to promote a fit and healthy lifestyle.
Speaking on the new category launch, Fitspire Founder & CEO Vipen Jain said, “The demand for cruelty-free and eco-conscious choices is gaining momentum, and the rise of vegan beauty products has become a phenomenon. Consumers are now embracing products that are manufactured ethically. The global market is expected to touch $21.4 billion by 2027, and we expect to be a significant player globally by then.”
Industry reports suggest that the Indian vegan cosmetic market is expected to grow above 7.17 per cent CAGR from 2023 to 2028. The skincare range (biotin, collagen, and omega) is experiencing a remarkable shift towards vegan and plant-based products.
“Keeping in mind the massive growth potential, Fitspire expects to penetrate 5 percent of the market that will help boost our overall revenue by 10 percent by 2025,” Vipen added. The products will be retailed across offline stores and online marketplaces.
Fitspire was already leading the way in Health and Wellness with Impressive H1 Growth, with an extraordinary 10x growth this year. With an ambitious revenue target of Rs 300 crore over the next three years with its diverse array of vegan offerings.
Fitspire’s dedication to reaching every part of the country is evident in its current footprint across over 15,000 pin codes.
This expansive coverage guarantees accessibility to all Fitspire products, from urban to rural areas, resonating effectively with its robust customer base of one million individuals.
Brands
Sapphire Foods FY26 revenue rises to Rs 3,125 crore, posts loss
Q4 revenue at Rs 792 crore, FY26 loss at Rs 32 crore amid cost pressures.
MUMBAI: If growth is on the menu, profitability seems to have taken a brief detour. Sapphire Foods India reported a steady rise in topline for FY26, even as rising costs weighed on profitability. Revenue from operations grew to Rs 3,125 crore for the year ended March 31, 2026, up from Rs 2,882 crore in FY25. However, the company swung to a loss, reporting a net loss of Rs 32 crore for FY26, compared to a profit of Rs 17 crore in the previous year. Total income for the year stood at Rs 3,153 crore, while total expenses climbed to Rs 3,167 crore, reflecting pressure across key cost heads.
In the March quarter, revenue came in at Rs 792 crore, compared to Rs 711 crore in the same period last year. The company reported a quarterly net loss of Rs 13 crore, against a profit of Rs 2 crore a year earlier.
Cost pressures remained visible across operations. Material costs rose to Rs 995 crore for FY26, while employee expenses increased to Rs 428 crore. Other expenses, the largest component, stood at Rs 1,229 crore, underscoring the impact of store operations and expansion-related spends.
Depreciation and amortisation expenses also climbed to Rs 392 crore for the year, reflecting continued investments in store infrastructure and growth.
At the operating level, the company reported a loss before tax of Rs 37 crore for FY26, compared to a profit of Rs 23 crore in FY25. Exceptional items added Rs 24 crore to the cost burden during the year.
On the balance sheet, total assets rose to Rs 3,256 crore as of March 31, 2026, up from Rs 3,041 crore a year earlier, indicating ongoing expansion. Net worth stood at Rs 1,389 crore.
Despite profitability pressures, operating cash flow remained resilient at Rs 507 crore, highlighting underlying business strength and demand stability.
The numbers paint a familiar picture in the quick-service restaurant space, growth continues to be served hot, but margins are still finding their footing.
