Quick-fashion commerce startup Slikk is targeting monthly gross merchandise value of ₹90-100 crore in Bengaluru by March as it expands its dark-store network and prepares to enter Delhi and Mumbai within the next six to nine months, co-founder and chief executive officer Akshay Gulati said.
The Bengaluru-based company currently operates six dark stores in the city and plans to add four more over the next two months. It expects to have around 12 dark stores in Bengaluru by the end of the year, according to Gulati. The expansion will increase the local fulfilment network supporting Slikk’s rapid fashion-delivery model.
Slikk is also aiming to reach monthly GMV of ₹45-50 crore over the next two months. The company said it has grown nearly tenfold over the past six to seven months, although it did not disclose its current monthly GMV in the report.
The company’s planned expansion comes as quick-fashion businesses attempt to combine fashion retail with rapid delivery from neighbourhood-level fulfilment facilities. Slikk is positioning itself as a broader fashion destination for consumers aged 18 to 35, rather than only as a quick-fashion platform.
Slikk currently lists more than 25,000 stock-keeping units on its platform. Gulati said 40-45 per cent of these products are “BAU drivers”, or items that consistently contribute to sales. He also said the company’s repeat rate is among the highest in India’s fashion marketplace sector, across both established and newer platforms.
According to Gulati, Slikk offers negligible discounts to returning customers. He attributed repeat purchases to serviceability, improving product curation and a wider selection. The company said it has positive order-level contribution margins and that its burn has declined by 50 per cent over the past six months. Gulati also said CM2, a later contribution-margin measure, has been shrinking each month.
Slikk’s model faces competition from larger fashion and retail platforms that are adding faster delivery to their existing operations. Myntra and Reliance Retail have both moved towards faster fashion fulfilment, while several startups in the segment have struggled to scale, according to the report.
The company has raised $13.5 million across three funding rounds. This includes $300,000 in pre-seed funding, a $3.2 million seed round led by Lightspeed and a $10 million Series A led by Nexus Venture Partners, with participation from Lightspeed. Slikk is planning its next fundraise over the next couple of months.
The company’s immediate operational milestones are the addition of four Bengaluru dark stores over the next two months, expansion to about 12 stores in the city by year-end and entry into Delhi and Mumbai over the following six to nine months.
