Comet raises ₹100 crore Series B to accelerate store rollout and product expansion

Bengaluru sneaker brand Comet has raised a ₹100 crore Series B led by Verlinvest, with participation from Elevation Capital and Nexus Venture Partners. The company plans to reach 10 stores this month, double its store count by FY27 and expand its footwear range from four to eight models by next year.

— Source publishedFri, 4 Sept, 2026, 16:09 IST·First seen Fri, 4 Sept, 2026, 16:13 IST·Source YourStory

What happened

Bengaluru-based sneaker brand Comet raised Rs 100 crore in a Verlinvest-led Series B to expand physical retail, product development and technology. The brand

Key facts

  • Rs 100 crore Series B
  • Rs 42.3 crore Series A in 2024
  • More than 500,000 Instagram followers
  • Revenue grew ninefold since 2024
  • 10 retail stores planned by end of month
  • Store count targeted to double by end-FY27
  • Four footwear models currently; eight targeted by end of next year

Why this matters

Comet’s move toward a larger omnichannel footprint makes it a more consequential partnership, distribution or strategic-acquisition candidate in India’s premium footwear market.

What to watch

  • Whether Comet reaches 10 stores this month and provides a credible FY27 store-count target.
  • Store-level sales productivity, payback periods and evidence that offline stores improve online conversion in their catchments.
  • New model launches, price architecture and whether the range expansion moves into adjacent footwear categories.
  • Signs of improved inventory turns versus rising discounting or end-of-season markdowns.
  • Competitive responses from Indian sneaker labels, global sportswear brands and multi-brand sneaker retailers.
  • Follow-on hiring in retail operations, merchandising, technology and supply chain.
  • Prioritize stores in Bengaluru, Mumbai, Delhi NCR and other sneaker-dense metros, likely using malls and premium high-street locations.
  • Build localized omnichannel capabilities such as store inventory visibility, click-and-collect, exchanges and CRM-led repeat marketing.
  • Use new product development investment to widen beyond core sneaker silhouettes, with limited drops and collaborations supporting demand testing.
  • Strengthen sourcing, quality control and replenishment systems before the planned SKU expansion.
  • Increase brand marketing around offline community events, sneaker culture and creator partnerships to drive store traffic.

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