Article

I Studied 35 Indian D2C Brands. Here's What Actually Decides If They Win.

The CPG Lab · thecpglab.substack.com Free Intermediate India

A data-backed India newsletter deep-dive arguing that gross margin is the single strongest predictor of which D2C brands reach EBITDA positivity. Exactly the kind of India-specific pattern-matching that explains why revenue growth and profit diverge here.

  • Gross margin is the strongest predictor of reaching profitability in Indian D2C.
  • Profitability is decided by cost structure, not growth rate.
  • Real teardowns of Indian brands, not generic global theory.
Open on thecpglab.substack.com ↗

It answers 4 questions

  1. I want to build a D2C brand but I haven't picked a product yet. How do I actually decide what to sell?
  2. Should I chase a high-margin niche product or a high-volume everyday product?
  3. My revenue keeps growing but I'm still losing money. Why does that happen?
  4. Should I launch with one hero product or a full range, and how much does repeat-purchase matter?

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