The Indian pet marketplace witnessed an 85% sales increase in 2022.
Heads Up For Tails (HUFT) posted INR 125.5 crore ($15.3M/€14M) in operating revenue last year. There was an 85.9% growth from 2021, where the company posted INR 67.5 crore ($8.2M/€7.5M) in revenue.
The company’s overall expenses increased by 129.8%, reaching INR 84.3 crore ($10.3M/€9.4M). Advertising accounted for INR 139.9 crore ($17M/€15.6M), nearly doubling the amount spent in the year before.
With these good numbers, HUFT recently announced the launch of Dash Dog, a new pet care lifestyle brand designed to help pets and owners live active lives.
Founder Rashi Narang was quoted in local media saying that dogs are meant to lead lives that include exercise and playtime. “Our products reflect that philosophy,” he stressed.
Dash Dog includes easy walk harnesses, 6-way leashes, chew toys, comfort toys, floatable fetch toys, and rope toys catered to younger audiences that wish to involve their dogs in an active lifestyle.
More funding soon?
HUFT raised $37 million (€33.5M) in August 2021 in a Series A funding round led by Verlinvest and Sequoia Capital India.
Currently, some reports hint that Narang is in talks to raise another round for $10-15 million (€9-14M) from existing investors.
The retailer recently opened store number 75 in Delhi. According to local media, the company plans to reach a milestone of 150 stores in 15 cities by 2024.
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