B2B commerce platform OfBusiness has reported more than a three-fold increase in its apparel business, with revenue rising to Rs 3,002 crore (US $315.28 million) in FY26 from Rs 843 crore (US $88.50 million) in FY24, as the company prepares to file for an initial public offering (IPO).
The apparel vertical has emerged as OfBusiness’ fastest-growing business segment over the past two years. The company supplies seven of the world’s top 10 apparel retailers, including Uniqlo, Adidas, Skechers, Michael Kors and Doen. OfBusiness operates across commerce, financing and revenue-generation services for small and medium-sized enterprises (SMEs).
According to co-founder Vasant Sridhar, the apparel business has demonstrated the scalability of OfBusiness’ model by combining manufacturing capabilities, established customer relationships and access to global markets. Over the past two years, the company has expanded its operating presence across South India while increasing apparel exports to more than 70 countries.
The apparel segment’s contribution to OfBusiness’ Rs 19,174-crore (US $2,013.02 million) commerce business has also increased significantly, rising to 15.7% in FY26 from 4.6% in FY24.
The company said that apparel has now become one of its four core verticals, alongside metals, chemicals and food processing. However, the company noted that apparel has recorded faster growth than the other three segments over the past two years. The expansion has been supported by a wider presence across South India, particularly in Andhra Pradesh, Tamil Nadu and Karnataka.
The company follows a business model that combines sourcing operations with owned manufacturing capacity. Its manufacturing network is anchored by Bengaluru-based Indian Design, which OfBusiness acquired last year.
