D2C Fasion Brand Bewakoof raises $60 million from InvestCorp, IvyCap Ventures & Others
Bewakoof.com, a D2C fashion brand, raised $60 million in a pre-Series-B financing led by InvestCorp and including IvyCap Ventures and Spring Marketing Capital. With this round, the company has raised a total of 170 crore.
The fund will be used to accelerate the company's growth by investing in marketing, branding, technology, and talent acquisition. By 2025, it aims to have a revenue of 2,000 crore.
Gaurav Sharma, Partner, Head of Private Equity, InvestCorp says, “Bewakoof has innovated and realigned the business with new initiatives and has put in place a motivated team and other building blocks to achieve an accelerated growth. We are delighted to continue backing them for the next phase of growth of the Bewakoof brand.”
Bewakoof recently launched celebrity-led digital ads with Rajkummar Rao, Sanya Malhotra, and Farhan Akhtar (Toofaan), and plans to expand by signing more A-list stars to develop high-decibel marketing campaigns across digital, OOH, and TV. On the technological front, the business intends to establish a gamification-driven loyalty programme as part of its Bewakoof Tribe update, which will include new and exclusive launches for club members.
Prabhkiran Singh, Founder and CEO, Bewakoof, says, “Bewakoof has emerged as the largest D2C fashion brand in India, this growth has come on the back of rolling out new categories, exclusive fashion range with brands like Coca Cola. With the new fund raise, we are gearing to take the brand to an unexplored new customer base which will be enabled through mass media like TV and print campaigns. Our focus is to bring the best of fashion at the best of prices to our customers who have shown unwavering support and are the reason that we stand apart in a crowded segment like fashion.”
Bewakoof, which has served over 6 million clients to date, continues to grow at a rate of over 1 lakh new users every month. The company also plans to improve advantages for Tribe members as it strives to grow from 1,50,000 to one million subscribers in the next two years by producing exclusive collections and providing early access to Tribe members.
Vikram Gupta, Founder and Managing Partner, IvyCap, says, “Innovation is at the core of Bewakoof, across designs, marketing and growth strategies. The brand has demonstrated significant growth over the past few years, backed by increasing operational efficiencies and a strong customer following. We remain excited to partner with the Company and Prabhkiran in this next leg of expansion."
The fund will be used to accelerate the company's growth by investing in marketing, branding, technology, and talent acquisition. By 2025, it aims to have a revenue of 2,000 crore.
Gaurav Sharma, Partner, Head of Private Equity, InvestCorp says, “Bewakoof has innovated and realigned the business with new initiatives and has put in place a motivated team and other building blocks to achieve an accelerated growth. We are delighted to continue backing them for the next phase of growth of the Bewakoof brand.”
Bewakoof recently launched celebrity-led digital ads with Rajkummar Rao, Sanya Malhotra, and Farhan Akhtar (Toofaan), and plans to expand by signing more A-list stars to develop high-decibel marketing campaigns across digital, OOH, and TV. On the technological front, the business intends to establish a gamification-driven loyalty programme as part of its Bewakoof Tribe update, which will include new and exclusive launches for club members.
Prabhkiran Singh, Founder and CEO, Bewakoof, says, “Bewakoof has emerged as the largest D2C fashion brand in India, this growth has come on the back of rolling out new categories, exclusive fashion range with brands like Coca Cola. With the new fund raise, we are gearing to take the brand to an unexplored new customer base which will be enabled through mass media like TV and print campaigns. Our focus is to bring the best of fashion at the best of prices to our customers who have shown unwavering support and are the reason that we stand apart in a crowded segment like fashion.”
Bewakoof, which has served over 6 million clients to date, continues to grow at a rate of over 1 lakh new users every month. The company also plans to improve advantages for Tribe members as it strives to grow from 1,50,000 to one million subscribers in the next two years by producing exclusive collections and providing early access to Tribe members.
Vikram Gupta, Founder and Managing Partner, IvyCap, says, “Innovation is at the core of Bewakoof, across designs, marketing and growth strategies. The brand has demonstrated significant growth over the past few years, backed by increasing operational efficiencies and a strong customer following. We remain excited to partner with the Company and Prabhkiran in this next leg of expansion."
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