India's BPC Market Shifts: Pilgrim's Rise Amidst Decline

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India’s BPC market has rarely been forgiving! As legacy FMCG majors tighten distribution and several D2C beauty brands confront slowing revenues and rising CAC, the easy-growth era appears over. Yet, Pilgrim is emerging as an outlier💡 Founded in 2019, the Mumbai-based brand scaled 24X in three years to ₹400 Cr in FY25, backed by online-led distribution, improving offline mix and strong repeat metrics. With $54 Mn+ raised and a ₹600 Cr+ FY26 target in sight, Pilgrim’s trajectory raises a sharper question: what does disciplined execution look like in a crowded beauty battlefield? 🔗To read the in-depth article, click here- https://4-2.co/4axPedI #Inc42 #BPC #beauty #fashion #skincare #Indianstartups #revenue #financials #startups 

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