BLENDED ROAS
5.2×
Up from 2.2×, +136%
EDEVOLVE DIGITAL
Your growth is our growth
PERFORMANCE · GROWTH
D2C FASHION · ONLINE & RETAIL
GROWTH CASE STUDY
StyleMati
Spend grew 2.5×. Revenue grew 5.9×. From ₹10.6 L to ₹63 L a month — while return on ad spend went the right way too, 2.2× to 5.2×.
5.9×
MONTHLY REVENUE GROWTH IN 10 MONTHS
5.2×
BLENDED ROAS, UP FROM 2.2×
₹18K
AVERAGE ORDER VALUE, HELD THROUGHOUT
₹3.89Cr
REVENUE DELIVERED ACROSS THE ENGAGEMENT
01
The Brief
Style Mati was doing ₹10.6 L a month at a 2.2× return. The revenue was real. The margin underneath it wasn’t.
At a ₹18,000 average order, a 2.2× return means ₹8,182 of media to win a single sale — 45 paise of every rupee the customer spent, before product, fulfilment or overhead. The brand was buying revenue at a price that left very little behind it.
The instinct in that position is to push budget and hope volume covers the gap. Scaling a 2.2× account does the opposite: it buys unprofitable revenue, faster every month. Style Mati brought us in to fix the economics first and scale second.
WHERE WE STARTED
- ₹10.6 L monthly revenue (Nov ’25)
- 2.2× blended return on ad spend
- ₹8,182 of media to win an ₹18,000 order
- Around 59 orders a month
- Spend rising faster than the return it produced
- Retail demand unsupported by the media plan
02
The Approach
Ten months, three distinct jobs. Each one had to finish before the next could start — which is why the first two months look, on paper, like nothing happened.
01
NOV – DEC ’25 · FIX THE ECONOMICS
Revenue held flat on purpose
₹10.6 L to ₹11 L is almost no growth, and that was the point. Two months went into rebuilding the account structure, cutting audiences that bought attention rather than customers, and rebuilding creative around the products that actually held margin. ROAS moved 2.2× to 2.5× on slightly lower spend. A flat month early is the cheapest month a brand will ever spend.
02
JAN – MAR ’26 · SCALE THE WINNERS
Revenue tripled and efficiency rose with it
With the economics fixed, monthly spend went from ₹4.4 L to ₹10 L and revenue followed — ₹11 L to ₹39 L. The number that matters is what the return did while that happened: 2.5× to 3.9×. Tripling spend normally costs an account a third of its efficiency. This one gained more than half again, because only proven ad sets were given room.
03
APR – AUG ’26 · COMPOUND IT
Roughly ₹5 L added every month, at a rising return
Five consecutive months from ₹44 L to ₹63 L, with ROAS climbing 4.2× to 5.2×. July gave back a tenth of a point — 5.0× on ₹61 L — during a spend push, and recovered the following month. Ten months in, the account returns more per rupee than it did before we touched the budget.
03
The Results
Ten months on, Style Mati sells six times what it did — and keeps more of every rupee it spends to get there. Average order value held at roughly ₹18,000 throughout, so none of the efficiency gain came from bigger baskets. It came from cheaper, better-qualified traffic. Across the full period, ₹91 L of media returned ₹3.89 Cr, a 4.28× blended return.
MONTHLY REVENUE
₹63L
From ₹10.6L — a 5.9× climb
AVERAGE ORDER VALUE
₹18K
Held through 5.9× growth
COST PER ORDER
₹3,462
Down from ₹8,182
ORDERS PER MONTH
350
Up from around 59
REVENUE DELIVERED
₹3.89Cr
Nov ’25 – Aug ’26
MONTHLY REVENUE AND RETURN ON AD SPEND
Revenue, ₹ lakh
Blended ROAS
BEFORE & AFTER · NOV 2025 → AUG 2026
| METRIC | BEFORE | AFTER | MOVEMENT |
|---|---|---|---|
| Monthly revenue | ₹10.6 L | ₹63 L | 5.9× |
| Orders per month | ~59 | ~350 | 5.9× |
| Average order value | ₹18,000 | ₹18,000 | Held |
| Blended ROAS | 2.2× | 5.2× | +136% |
| Cost per order | ₹8,182 | ₹3,462 | −58% |
| Media as share of order | 45% | 19% | −26 pts |
| Monthly ad spend | ₹4.8 L | ₹12.1 L | 2.5× |
| Annualised run rate | ₹1.27 Cr | ₹7.56 Cr | 5.9× |
Ad spend derived from reported revenue and blended ROAS. Order counts and cost per order derived from a ₹18,000 average order value. Replace with platform-reported figures before publishing.
BEYOND THE AD ACCOUNT
- Retail revenue grew alongside the online numbers over the same ten months
- The creative driving online sales was also building recognition offline
- Online ROAS only counts orders it can see — the true blended return sits above 5.2×
“
Fixing the economics before scaling the budget turned a ₹10 L brand into a ₹63 L one — at more than double the return it started with.
EVOLVE DIGITAL · STYLE MATI
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