DailyObjects Targets Rs 400 Cr Revenue in FY27 After Crossing Rs 200 Cr in FY26

DailyObjects, the design-led consumer accessories brand founded by Pankaj Garg, has crossed Rs 200 Cr in revenue in FY26 and is targeting Rs 400 Cr in FY27 as it expands its product portfolio, offline retail network and manufacturing capabilities.

Founded in 2012 as a multi-category online business, DailyObjects narrowed its focus to smartphone cases in 2014. Over time, it expanded into bags, charging products and workspace accessories, building its brand around design and quality.

The company’s growth reflects a broader shift in consumer spending on smartphone accessories. As Indians began spending Rs 20,000, Rs 30,000, Rs 40,000 and even Rs 50,000 on smartphones, demand grew for accessories that offered more than basic protection.

DailyObjects identified an opportunity to build a design-led brand in a market dominated by inexpensive, unbranded products and copies of established international brands.

The company is now working towards EBITDA profitability in FY27 while expanding its presence across online and offline channels.

Making Phone Cases More Than a Commodity

DailyObjects began as a multi-category online business but chose to focus on smartphone cases in 2014. Instead of spreading its resources across different product lines, the startup concentrated on one category, differentiated through design and quality, and built a customer base willing to pay a premium.

At the time, phone cases were largely treated as commodities. Consumers could find inexpensive options at local mobile stores, while copies of products from established international brands were also widely available.

DailyObjects sought to differentiate itself by offering designer cases and collaborating with artists. It also focused on materials and product quality to compete with global brands.

The company then made another strategic decision: it dropped car accessories and other retail products to concentrate on smartphone cases, which it viewed as a larger and faster-growing opportunity. Its approach was to build depth in one category before expanding into others.

The same thinking shaped its distribution strategy. Rather than relying heavily on marketplaces to reach a wider audience and drive volumes, DailyObjects largely focused on its own channels. According to the company’s approach, marketplaces could help sell products but could not build a brand for it.

This meant generating its own traffic, establishing a distinct design identity and convincing consumers to pay more for products available elsewhere at lower prices.

During this period, the startup raised Rs 9 Cr from Ronnie Screwvala’s Unilazer Ventures. According to Garg, the business had been profitable from its early stages, giving it room to grow without relying heavily on deep discounts or chasing marketplace volumes.

DailyObjects remained focused on phone cases for nearly five years before entering another major category. Its strategy was to establish a foothold in one category, build distribution around it and then expand into the next.

The approach continues to shape the business, with nearly 70% of its sales coming through its own channels.

DailyObjects’ Playbook: Making Everyday Products Desirable

DailyObjects’ next expansion focused on products that appealed to the same consumers who had bought its phone cases.

The company entered the bags category in FY21, opening up a larger opportunity beyond smartphone accessories. However, it faced a manufacturing challenge because suppliers were unwilling to accept its small orders.

DailyObjects responded by manufacturing bags itself. The operation started with two tables and eventually expanded into its own factory.

Today, bags account for around 40-45% of the company’s revenue. They are manufactured entirely in India at its own facility, which employs around 600 people.

DailyObjects’ average order value is now around Rs 2,600 and has been rising about 10% every year. The company attributes this increase to products such as bags, power banks and premium phone cases.

In FY23, DailyObjects entered the charging products category. Around this period, the startup raised $10 Mn from 360 One Asset to support product innovation and expand its manufacturing capabilities.

Its charging and STAC categories have grown nearly threefold since then. Its latest offering, NODE, is a modular wireless charging system designed around consumers carrying multiple devices between home, work and travel.

The startup currently has around 50 core stock-keeping units (SKUs), excluding colour and size variants.

Revenue Growth and Financial Performance

DailyObjects’ revenue has increased over the years, from Rs 24.1 Cr in FY21 to Rs 39.2 Cr in FY22, Rs 84.4 Cr in FY24 and Rs 110 Cr in FY25.

Garg said the startup closed FY26 with revenue of over Rs 200 Cr. The company is targeting Rs 400 Cr in FY27.

While the founder did not disclose bottom-line details for FY26, DailyObjects reported a loss of Rs 16 Cr in FY25. The startup is yet to file its audited financial statements for FY26 with the Ministry of Corporate Affairs.

The company is currently operating close to break-even and remains on track to achieve EBITDA profitability in FY27.

The Next Challenge: Taking the Brand Beyond Metros

DailyObjects spent years building its own traffic and customer base, giving it greater control over product presentation and pricing. The company says its lifetime repeat purchase rate stands at around 45%.

Its average order value has risen by roughly 10% year-on-year to about Rs 2,600, which the company attributes to customers spending across its wider product range.

Its customer base has also expanded beyond metropolitan markets. Around 35-40% of DailyObjects’ sales now come from Tier III and IV cities, while another 20-25% comes from Tier II markets.

The company is expanding its reach into cities such as Vizag, Patna, Ludhiana, Indore, Lucknow and Surat.

The next phase of growth will also focus on profitability. DailyObjects expects operating margins, currently around 5%, to expand to 15-20% over the next four to five years.

The improvement is expected to come from a higher-value product mix, a larger contribution from offline retail and greater supply-chain efficiencies.

Recently, DailyObjects raised Rs 332 Cr ($34.3 Mn) in a Series C funding round co-led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital.

The funds will support the expansion of its offline network, product and research and development capabilities, brand building, and the evaluation of opportunities in international markets.

DailyObjects’ Offline Push Comes With a Bigger Test

DailyObjects is now bringing its brand proposition into physical retail. The startup currently operates 13 exclusive brand outlets and is opening two to three stores a month.

It plans to add 30-35 stores in FY27 and aims to build a network of 150-160 stores over the next five years. The company is also present at 300 Apple premium reseller outlets.

The offline strategy gives customers an opportunity to examine products, feel the materials and assess the finish before making a purchase. It also allows DailyObjects to reach markets where it already sees demand through its online channels.

According to the founder, all stores become profitable from the first month of operations. Its airport stores, in particular, are generating margins of close to 15% from the first month.

Alongside its domestic retail expansion, DailyObjects is exploring international markets. The company is researching the US, where it already receives around 1,000 orders a month without dedicated marketing.

With its revenue target set at Rs 400 Cr for FY27, DailyObjects’ next challenge is to scale its offline and international presence while improving profitability and maintaining the design-led positioning that has shaped its business.

FAQs

1. How much revenue did DailyObjects generate in FY26?

DailyObjects crossed Rs 200 Cr in revenue in FY26 and is targeting Rs 400 Cr in FY27.

2. Who founded DailyObjects, and when was it established?

DailyObjects was founded by Pankaj Garg in 2012 as a multi-category online business. It narrowed its focus to smartphone cases in 2014.

3. Which product category contributes the largest share of DailyObjects’ revenue?

Bags account for around 40-45% of the company’s revenue.

4. How much funding has DailyObjects raised in its recent Series C round?

DailyObjects raised Rs 332 Cr ($34.3 Mn) in a Series C round co-led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital.

5. What are DailyObjects’ offline expansion plans?

The company plans to add 30-35 stores in FY27 and aims to build a network of 150-160 stores over the next five years. It is also present at 300 Apple premium reseller outlets.