Celebrity-led skincare brand Hyphen, co-founded by Bollywood actor Kriti Sanon and PEP Brands, recently announced it crossed ₹400 crore in annual recurring revenue at the end of its second year. The brand claims its sales rose from ₹100 crore in year one to ₹400 crore within 24 months, driven by a 4× user base increase from 1 million to 4 million and 60% repeat purchase rate. It currently delivers to over 19,000 pin codes across India.
Deep Reach, High Retention: The Numbers Explained
Hyphen’s leadership credits its fast growth to a digital-first, D2C model, data-backed consumer insights, focused skincare offerings, and strong brand engagement, with Kriti Sanon taking an active stakeholder role as Chief Customer Officer.
Viral Skepticism Over 5,600% Growth Claim
Yet, critics are questioning the plausibility of such explosive scale. A viral video by marketer Nitin Joshi highlighted that if Hyphen earned only ₹7 crore in FY24, jumping to ₹400 crore implies a 5,600% year-on-year surge, a phenomenal rise even in India’s booming beauty market. Joshi compared Hyphen to brands like Minimalist, which grew 40% each year, and Sugar Cosmetics, which took 10 years to reach ₹500 crore in sales. He concluded that Hyphen’s claimed growth seems unlikely without unique product ideas or strong marketing.
Credibility Concerns: Brand Comparisons and Transparency
Joshi also noted that Hyphen’s parent company mCaffeine generates about ₹200 crore in revenue, indicating Hyphen alone matching that level or exceeding it would require extraordinary market leverage. He specifically asked, “So where are these numbers coming from?”. Consumers and analysts alike are now demanding more transparency on Hyphen’s financials and growth metrics.
Mixed Reviews from Customers and Community Feedback
Online reviews are polarized. Some users praise Hyphen’s lip balms and accessible price range, while others cite skin reactions, heavy formulations, or a perceived lack of originality, comparing Hyphen to global brands like Rhode or Minimalist. Multiple Reddit threads include criticisms such as:
“Hyphen is a dupe of Rhode… I regret buying Hyphen products.”
“Lip products feel chemically… not up to mark.”
Those comments reflect skepticism around product quality and customer experiences. .
Summary Table of Claims vs. Critics
| Claim / Metric | Hyphen Statement | Public & Expert Concern |
| ₹400 Crore in 2-Year Annual Revenue | Rapid climb from ₹100 crore in year one | Growth jump (~5,600%) deemed implausible by critics |
| Customer Base, Repeat Rate | 1M → 4M users; 60% repeat purchase | Repeat rate plausible; overall scale still under question |
| Pincode Reach | Over 19,000 across India | Geographic scale believable; growth speed debated |
| Product Innovation | Science‑meets‑nature formulations, strong loyalty | Critics question originality and value beyond star power |
Growth vs. Transparency
A significant turning point in India’s celebrity-backed direct-to-consumer cosmetics industry has been reached with Hyphen’s ₹400 crore success. This accomplishment shows effective marketing strategies and strong backend systems. Customers should use caution when believing Hyphen’s growth boasts, though. Verifiable measures and clear information must go hand in hand with rapid expansion. Without transparency, Hyphen runs the danger of being perceived as a passing trend rather than a long-term, viable business.
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