In the year, Magicpin added 6,000 new fashion stores, taking the total to 16,000 stores from over 250 brands. Some of the big brands that joined the platform in the last 2 years are Puma, Levi’s, Van Heusen, Shoppers Stop, Bata, Jack & Jones, ONLY, Pepe Jeans, Titan World and many more.
“We are thrilled to see the fashion business growing so well which has been a core focus area for us. Adding 6,000 fashion stores across 100 brands and reaching 16,000 fashion stores with 250+ brands shows the value Magicpin creates for offline retailers and brands,” said Naman Mawandia, Chief Experience Officer – Enterprise Brands at Magicpin.
The company founded in 2015 by Anshoo Sharma and Brij Bhushan connects consumers to offline retailers across categories like fashion, food, grocery and electronics. Magicpin operates in 20 cities and uses real-time data to deliver highly localized promotions. Its business model is pay-per-conversion, helping brands drive sales through hyper-targeted marketing.
To encourage more purchases Magicpin has launched a deal hub magic9 on its homepage. The section has low priced, fast moving fashion items to encourage impulse buying and quick conversions.
Doubling the Fashion Catalogue
In FY25 Magicpin also doubled its fashion catalogue to 10 million SKUs, enabling more product diversity and scale. The company’s ability to connect large offline inventory with online consumers has carved a niche for itself in India’s retail-tech space where bridging digital and physical retail is a challenge for many. Magicpin’s fashion vertical is a key milestone as the company gears up for an IPO. With investors like Zomato and Lightspeed Venture Partners, the company has already started talking to investment banks and law firms to finalize the IPO process. However, timeline for the Magicpin IPO is not finalized.
Financial Growth and Strategic Shifts
Samast Technologies, Magicpin’s parent company, reported a consolidated revenue of INR 297.24 crore in FY23 up from INR 162.44 crore in FY22. Losses also narrowed to INR 114.26 crore in FY23 from INR 149.29 crore in FY22. As per the latest shareholding pattern, Lightspeed holds 36% stake in the company and Zomato holds nearly 17%.
Although Magicpin’s founders exited operational roles in 2024 to pursue venture capital opportunities, the company is still expanding into new areas. Most recently it entered the quick commerce space with magicNow, a 1.5 to 2 km radius food delivery initiative targeting metro cities like Delhi-NCR, Mumbai, Bengaluru and Chennai.
Looking Ahead
Fashion vertical contributes to most of the sales and has 20% YoY growth, Magicpin is a key player in India’s offline to online retail ecosystem. Its strategic expansion, robust tech infrastructure and growing brand partnerships shows that both retailers and consumers are trusting the platform.
As the company goes public, all eyes will be on whether Magicpin can sustain the momentum and redefine how offline retail integrates with the digital economy. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.