The Souled Store
The Souled Store: Business Model Canvas
The nine-block Business Model Canvas, filled in only where a public source states it — empty blocks mean we haven't found a citable fact yet, not that the answer is zero.
Value Propositions
Positioned by its lead investor as the category leader in licensed pop-culture merchandise combined with its own casual-wear line.
sourceSells apparel and accessories under official licenses spanning entertainment studios and sports leagues/teams.
sourceCustomer Segments
Core customer base described as young, fandom-driven shoppers.
sourceCustomer Relationships
Subscription giving members discounts, early access to launches and priority shipping; described by the outlet as a rare successful subscription model in the Indian D2C market.
sourceMost members recoup their subscription outlay from a single order, per the co-founder, reinforcing renewal.
sourceChannels
~90% of revenue comes through the company's own D2C channels (site/app/stores), with the balance from marketplaces.
sourceCompany-operated offline stores contribute alongside online D2C sales. Note: the cited article's own text labels this Rs 355 crore/98.6% figure "FY23" (likely a typo in the source, since 355/360.2 crore ties to the same article's FY24 total revenue figure) — quoted verbatim as published, not corrected.
sourceKey Activities
Piloting use of its own physical stores as fulfilment centres for select SKUs to speed up online deliveries, alongside expansion onto quick-commerce platforms.
sourceKey Resources
Handed over its primary Mumbai warehouse to third-party logistics firm Emiza, which also runs a dedicated quality-control and refurbishment centre and acts as the central hub for website, marketplace and offline-store orders.
sourceKey Partnerships
Official merchandise licenses with major franchises and sports teams underpin the product catalog.
sourceHardik Pandya has been the brand's ambassador since 2022 and became an investor in October 2024.
sourceRevenue Streams
The largest single revenue channel, per the brand's FY23 channel split.
sourceCompany-operated physical stores generate a growing share of sales.
sourceSales through external marketplaces alongside owned channels.
sourceAnnual (Rs 199) or monthly (Rs 99) subscription programme that co-founder Vedang Patel says now drives over half of revenue.
sourceCost Structure
FAQs on The Souled Store
What is The Souled Store's business model?
The Souled Store's core value proposition centers on India's largest D2C fan-merchandise and casual-wear destination, Officially licensed pop-culture merchandise across 150+ franchises.
How does The Souled Store make money?
The Souled Store's cited revenue streams include Direct-to-consumer website & app sales, Offline retail stores, Third-party marketplaces (Flipkart, Amazon, Myntra), Paid membership subscriptions.