Slikk eyes ₹100 crore monthly GMV in Bengaluru, plans Delhi, Mumbai expansion

Quick fashion commerce startup Slikk is targeting ₹90-100 crore in monthly gross merchandise value (GMV) from Bengaluru by March as it expands its dark-store network and prepares to enter Delhi and Mumbai over the next six to nine months, said Akshay Gulati, co-founder and chief executive officer.

The Bengaluru-based company, which has grown nearly 10x over the past six to seven months, currently operates six dark stores in the city and plans to add another four over the next two months. By the end of the year, it expects to have around 12 dark stores in Bengaluru.

“We’re also on track to reach ₹45-50 crore in monthly GMV over the next two months,” Gulati said.

Slikk’s expansion comes as the quick-fashion segment faces questions around whether rapid delivery can translate into a sustainable business. Several startups have struggled to scale, while larger fashion platforms such as Myntra and Reliance Retail have also brought faster delivery into their existing ecosystems.

Slikk, however, is betting on repeat purchases and unit economics to build its business. Gulati said the company’s repeat rate is among the highest in India’s fashion marketplace space, across both legacy and newer fashion platforms.

The company currently has more than 25,000 SKUs on its platform, with around 40-45 per cent of these coming from its “BAU drivers”, or products that consistently contribute to sales.

Unlike many consumer internet businesses that rely heavily on discounting to drive repeat purchases, Slikk claims it offers negligible discounts to returning customers. “All our repeats are driven by great serviceability, our curation getting better month on month, and a better selection coming on board,” Gulati said.

The company also claims positive order-level contribution margins, with Gulati saying Slikk currently has the highest net CM1 among quick-commerce players. Its burn has declined 50 per cent over the past six months, while CM2 has been shrinking each month.

Slikk is now positioning itself as a broader fashion destination for consumers aged 18-35, rather than solely as a quick-fashion platform.

“We’re evolving into a primary fashion destination for everyone in the 18 to 35 age group, and that’s working really well for us,” Gulati said.

The company has raised $13.5 million across three funding rounds and is planning its next fundraise over the next couple of months. It has raised $300,000 in pre-seed funding, followed by a $3.2 million seed round led by Lightspeed and a $10 million Series A led by Nexus Venture Partners, with participation from Lightspeed.

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