IPO-bound Brandman Retail, a leading footwear and athleisure product in the licensed global brands arena, targets to achieve a topline of ₹400 crore in the next two financial years.
The successful IPO could act as a catalyst, potentially scaling the Delhi-based distributor’s revenue to the ₹500 crore milestone.
Brandman’s topline has demonstrated remarkable momentum, with revenue from operations surging from ₹46 crore in FY’23 to ₹135.3 crore in FY25 – a CAGR of nearly 200 per cent. Extrapolating this performance suggests the ₹400 crore target is well within reach, said wealth management expert Avinash Gorakshakar.
In the same period, the net profit margin has increased from a modest 1 per cent to 15 per cent to register a net profit of ₹21 crore, he added.
Moving forward, Brandman aims to defend the financial performance by leveraging its 23 per cent EBITDA margin through an asset-light, highly scalable business model.
Brandman is also widening its footprint. Currently managing 50 per cent of New Balance showrooms in India, the company is diversifying through “Sneakrz” multi-brand outlets and a strategic contract for 10 upcoming airport stores via Adani Airports.
Coupled with a digital strategy where online marketplaces and D2C platforms contribute 41 per cent of revenue, Brandman is uniquely positioned to dominate an athleisure market projected to reach $21.3 billion by 2033.
The company’s performance was driven by the “premiumization” trend, fuelled by the rising aspirations of India’s youth who are igniting the premium (₹3,000–₹7,000) and luxury (>₹7,000) footwear segments.
Brandman’s portfolio—headlined by global icons like New Balance, Puma, and Asics—is perfectly positioned at the intersection of these trends.
Despite a temporary headwind caused by new Bureau of Indian Standards (BIS) regulations, the company’s resilience is evidenced by a strong order book of ₹22 crore as of December-year.
Published on January 29, 2026
