Intimate wellness brand Plush is targeting revenue of ₹170–180 crore in the current fiscal year, nearly doubling its approximately ₹98 crore revenue last year. To achieve this goal, the company is stepping up customer acquisition, increasing its quick commerce market share and expanding its product portfolio while moving towards a more balanced distribution model.
Plush, which began as a digital-first brand, currently operates across approximately 3,000 touchpoints in six to seven cities. By the end of the current fiscal year, it aims to expand into 8–12 cities, with a particular focus on major metropolitan markets.
“The three growth levers for achieving the target are acquiring new customers, increasing market share on quick commerce and widening the product portfolio through three major launches planned for the next quarter,” said Ketan Munoth, co-founder, Plush.
The brand operates across period care, hair removal and sexual wellness. Period care accounts for around 60–70 per cent of revenue, while hair removal contributes 10–15 per cent and sexual wellness generates approximately 20 per cent. Plush currently offers about 40 stock-keeping units (SKUs) and has recently added deodorants to its intimate health and wellness portfolio.
Meanwhile, Plush is working to expand its distribution network. The company currently partners with around 14–15 distributors and sells through general trade and modern trade channels, including DMart.
“We are trying to scale our distribution,” Munoth said.
Quick commerce contributes around 60 per cent of Plush’s sales, followed by e-commerce at 20 per cent, offline retail at 10 per cent and direct-to-consumer (D2C) sales at 10 per cent. However, the company aims to increase D2C’s contribution to 15–17 per cent by investing more in customer acquisition and brand awareness.
“Now D2C as a channel will sort of increase and hit up to 15–17 percent,” he said.
Plush is also transitioning from importing products to localising manufacturing in India through third-party manufacturers. The company is supporting this shift with exclusive raw materials to gain greater flexibility in scaling its product portfolio and distribution network.
According to Munoth, the brand’s current product range limits its ability to expand more deeply into Tier 2 and Tier 3 markets. Therefore, broadening the portfolio remains a priority before Plush accelerates its entry into these markets.
On profitability, Plush is prioritising growth over achieving immediate breakeven. Although its e-commerce and quick commerce operations are profitable, customer acquisition and brand-building investments account for most of its current cash burn.
Plush has raised around ₹65 crore across four funding rounds, including its angel round, and is evaluating another fundraise. However, the company has not formally structured its next round and is also considering a smaller internal round before pursuing a larger capital raise.
