HYPHEN, a D2C beauty and personal care brand founded by Pep Brands and actor Kriti Sanon, has reported ₹400 crore in annual recurring revenue (gross) at the end of its second year. The brand added ₹300 crore in gross revenue over the past 12 months, after reporting ₹100 crore in its first year.
At a time when many celebrity-backed brands face challenges in maintaining scale, HYPHEN’s numbers place it among a limited group of D2C brands in India to cross the ₹400 crore gross mark within two years.
“When we launched mCaffeine, there were 9,800 brands in India. By the time we started HYPHEN, that number had exploded to 71,000. Today’s landscape is cluttered, where you need more than just a good product. You need to understand the consumer, create a category and choose the correct sales channel, alongside a sharp product strategy with data-driven execution,” said Tarun Sharma, Co-founder & CEO, HYPHEN.
HYPHEN's growth has followed Pep Brand’s existing playbook, including its “three Cs” framework: Consumer, Category, and Channel. The company also cites a six Ps approach—Proposition, Product, Packaging, Pricing, Platform, and Promotions—alongside use of mCaffeine’s backend infrastructure in e-commerce, quick commerce, and R&D systems as central to its operational model.
The brand was positioned to address what it describes as a gap in the skincare market by combining natural and scientific formulations. Product development is based on consumer feedback and recurring concerns rather than ongoing trends. According to the company, HYPHEN now has a product portfolio with average ratings above 4 out of 5 across platforms and reports a 60% repeat purchase rate. It currently ships to over 19,000 pin codes in India and claims a user base that grew from 1 million to 4 million in the past year.
“Operations and supply chain have always been a challenge. However, we have adapted and evolved alongside the exponential love from our consumers. In fact, the goal was to cross 500 Cr in 2027, and with this milestone, we are definitely ahead of our targets. Looking forward, our focus is on driving steady growth and building a stronger presence in categories we are still nascent in like facewash.” Sharma added.
Celebrity involvement often provides an initial boost in visibility and awareness, but sustained brand performance typically depends on market fit and execution. In the case of HYPHEN, co-founder Kriti Sanon holds an executive role beyond brand endorsement, with reported involvement in product development, customer experience, and operational decisions. The company states that she interacts with around 40–50 consumers monthly to gather feedback that informs product iterations.
Among its portfolio, HYPHEN's lip balm saw increased consumer attention over the past year. The company attributes part of this to visibility during public appearances, such as the IIFA awards, where the product was reportedly used by Sanon herself.
Kriti Sanon, Co-founder & Chief Customer Officer (CCO), said, “The past two years have been nothing short of incredible. Building HYPHEN from scratch has been one of the most personal and fulfilling journeys of my life. Watching it grow from an idea into a brand that so many of the consumers now trust and love - still feels surreal. I am so grateful to every single person who has believed in us and has chosen to HYPHEN us in their lives! This is only the beginning, where we continue to hyphen skincare with innovation and grow alongside a community that makes it all so worth it. Happy 2 years to us!”
