Bengaluru-based fashion apparel startup BlissClub laid off approximately 21 employees, or 18% of its workforce, in the second week of January 2024 as part of a restructuring effort to cut costs. The layoffs, which primarily affected teams like sales, marketing, growth, and product—with the creative team being completely dissolved—were driven by the company's inability to secure fresh capital amid high cash burn. Founded in 2020, BlissClub last raised $15 million in a Series A round in May 2022 and has since expanded from an online activewear platform for women to include offline stores. Despite reporting record revenue in December 2023, the startup faced significant financial pressures, with its net loss surging over 305% to INR 35.7 crore in FY23.
