According to a Bonafide Research report, the Indian pet care industry is projected to develop at a CAGR of more than 19 percent to reach ₹ 5,474 crore by 2025.

Ipshit and Meghna Bhattacharya formed the parent firm of LUVIN, Fabulicious, which has launched 12 products in the direct-to-consumer pet food industry. Out of the 12, three are made in Europe, with the remaining goods being created and produced internally. The company launched its first product under the name "LUVIN" in July of last year.

The founder Ipshit Bhattacharya says, “I started my career as a project engineer setting up manufacturing plants of human foods abroad. So, Food & Nutrition had always been areas of interest. Over the years, my attachment to my pets led me to learn more and more about their needs. We are elated that our efforts have been thus far recognised well by Customers, channel partners & platforms. A few months back, Better India mentioned us among the top 10 Natural & Healthy brands in the industry. We are fortunate to secure support from such eminent investors who believe in our vision equally and are willing to walk the miles with us. This will help catapult our efforts to reach our customers and serve them better.”

LUVIN competes directly with a number of businesses, including Heads Up for Tails, Pawfect.xyz, Supertails, Wiggles, Goofy Tails, and Just Dogs. Heads up for Tails, the dominant company in the pet care sector, raised the highest Series A round (₹ 37 million) in August 2021. Delhi-based Goofy Tails just won $500K in seed funding from investors including BeyondSeed, The Chennai Angels, and others.