Underneat, a premium shapewear brand co-founded by content creator Kusha Kapila and fashion veteran Vimarsh Razdan, has reached Rs 200 crore in annualised revenue within 12 months of launch. The brand has sold over 9 lakh units across shapewear, innerwear, and accessories to more than 6.5 lakh customers.
The brand launched in April 2025 as a direct-to-consumer (D2C) operation and now plans to expand into physical retail.
Rather than a blanket physical rollout, the brand intends to use its D2C consumer data – purchase patterns, geography, sizing preferences, and category behaviour to identify and prioritise high-potential retail markets and store formats. The expansion will span retail store formats and strategic marketplace partnerships, broadening the brand’s reach across India’s organised retail landscape.
Underneat claims a customer satisfaction score of 93%, backed by over 23,000 verified reviews and 7.86 lakh logged consumer conversations.
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“India’s innerwear category has been underloved for decades with assumptions about what women want. What Underneat has proven in 12 months is that when you close that gap with the right product and genuine consumer trust, the market responds at a pace that even surprises us. ₹200 Crore ARR is a validation of the model, but it’s also a signal of how large the opportunity still is,” said Vimarsh Razdan, co-founder & CEO of Underneat.
“The conversations we had before we even launched told us everything about fit, about frustration, about how consistently the category had let Indian women down. We built Underneat as an answer to all of that, and the response has been humbling. Six lakh women choosing us in year one isn’t just a number; it’s a measure of trust we take very seriously,” said Co-founder Kusha Kapila.
In a category long dominated by legacy players and undifferentiated products, Underneat has rewritten the playbook. The brand was not built from a boardroom brief but from an instagram feed. Months before its April 2025 launch, Kusha Kapila used her platform to open candid, humour-laced conversations about the everyday innerwear frustrations of Indian women: awkward fits, inconsistent sizing, and a category that had historically talked past its consumer. That consumer-first foundation has proven to be a structural competitive advantage, the brand said.
