Comet raises ₹100 Cr Series B to double its India store network to 20

Verlinvest-led funding will help the D2C sneaker brand expand from 10 to 20 company-owned stores by the end of the ongoing fiscal year, build proprietary sole tooling and R&D, and double its footwear range from four to eight models.

— Source publishedFri, 4 Sept, 2026, 15:58 IST·First seen Fri, 4 Sept, 2026, 16:26 IST·Source Inc42 · Buzz

What happened

Indian D2C sneaker brand Comet raised ₹100 Cr in a Verlinvest-led Series B to expand from 10 to 20 company-owned stores, develop proprietary sole tooling and

Key facts

  • ₹100 Cr ($10.6 Mn) Series B funding
  • 10 CoCo stores currently
  • 20 India stores targeted by end of ongoing fiscal
  • Footwear portfolio to double from 4 to 8 models
  • Founded in 2023
  • ~$5 Mn raised in July 2024
  • FY25 net loss: ₹4.4 Cr
  • FY25 operating revenue: ₹29.1 Cr

Why this matters

Comet’s capital raise strengthens it as a potential strategic partner or acquisition target in India’s premium footwear space, particularly as it adds women-focused products and in-house R&D capabilities.

What to watch

  • Confirmation of store locations, opening cadence and whether all 20 stores are operational by fiscal year-end.
  • New model launches, pricing and customer response to the female-focused footwear range.
  • Reported store-level productivity, same-store sales, inventory turns and gross-margin trends.
  • Evidence that proprietary tooling improves product reviews, repeat purchases or pricing power.
  • Hiring in retail operations, supply chain, design and R&D that indicates execution capacity.
  • Competitive responses from Indian D2C sneaker brands and global sportswear players through women’s launches, collaborations or discounting.
  • Prioritize 10 new stores in top-tier malls and high-street clusters where digital demand and sneaker culture are already proven.
  • Launch the female-focused footwear line with dedicated in-store merchandising, fit data collection and creator-led marketing.
  • Use new sole tooling to introduce comfort- and performance-adjacent variants beyond fashion sneakers.
  • Build localized inventory planning and replenishment capabilities to prevent stockouts across a doubled store network.
  • Test complementary revenue streams including accessories, apparel capsules, limited drops and selective marketplace or wholesale partnerships.
  • Measure store-driven online halo effects by city before committing to another major company-owned retail expansion.

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