Huechem Textiles's Brand Chromozome Receives INR 30 Crore from TIW Private Equity
Huechem Textiles Private Limited (HTPL) has received a large investment from TIW India Buyout Fund (TIW Private Equity) in the amount of INR 30 crore. The firm develops, distributes, and promotes Men's daily wear items under the brand "Chromozome", which was founded in 2001 by Vipan Mehra and Vineet Mehra.
It offers its items through both retail stores and online markets.
Huechem will focus on line extension in product categories, creating new channels, and expanding into new regions with the finance from TIW, according to Vineet Mehra, Huechem's Director.
Mohit Ralhan, managing partner and chief investment officer of TIW Capital Group, highlighted the digital space's development potential, saying, “we are very excited to partner with Huechem in its journey towards a steady macro with growth potential in the online space. The industry is expected to grow in double digits with online channels leading new adoption, which is the platform that the company intends to focus on”.
According to the statement, the firm is focusing on the mid-level and premium segments of the industry, which account for around 46% of the men's innerwear market. Chromozome is in competition with companies such as Page Industries, Dollar Industries, Lux Industries, and Rupa & Co.
TIW India Buyout Fund's track record of investing in 'FRICT' businesses and aiding them on their growth journey will help Huechem scale up even further, according to a joint statement from the companies.
The FRICT technique is a method of assessing the outcomes of a company's financial structure. It is an abbreviation for the aspects taken into account in the approach: flexibility, risk, income, control, and timing.
TIW Private Equity, located in New Delhi, is a SME-focused, sector-agnostic buyout private equity firm. Mahesh Bhupathi's D2C cosmetics and wellness firm Scentials received over $6 million in investment from TIW Private Equity in February of this year (TIW PE).
The garment business has seen an increase in fund flow, with sector participants shifting their focus to the direct-to-consumer (D2C) area. Surat-based men's clothing business XYXX secured INR 30 Cr in Series A investment in July from DSG Consumer Partners and Synergy Capital Partners, with participation from current investor Sauce.vc.
Bewakoof, a Mumbai-based D2C fashion firm that specialises in self-expression items, secured INR 60 Cr in its Pre-Series B round in August, driven by current investor InvestCorp.
Investors are also paying close attention to the fashion D2C market. As of April 2021, the category had raised the highest capital in India, $756 million, out of all D2C divisions, and the surge had attracted hundreds of startups.
StyleCracker, Zivame, Chumbak, Pretty Secrets, Azani, Anouk, FabAlley, Fable Street, The Souled Store, Wrogn, Clovia, Andamen, XYXX, Almo Man, Bombay Shirt Company, Damench, and others are also in the fashion D2C arena.
It offers its items through both retail stores and online markets.
Huechem will focus on line extension in product categories, creating new channels, and expanding into new regions with the finance from TIW, according to Vineet Mehra, Huechem's Director.
Mohit Ralhan, managing partner and chief investment officer of TIW Capital Group, highlighted the digital space's development potential, saying, “we are very excited to partner with Huechem in its journey towards a steady macro with growth potential in the online space. The industry is expected to grow in double digits with online channels leading new adoption, which is the platform that the company intends to focus on”.
According to the statement, the firm is focusing on the mid-level and premium segments of the industry, which account for around 46% of the men's innerwear market. Chromozome is in competition with companies such as Page Industries, Dollar Industries, Lux Industries, and Rupa & Co.
TIW India Buyout Fund's track record of investing in 'FRICT' businesses and aiding them on their growth journey will help Huechem scale up even further, according to a joint statement from the companies.
The FRICT technique is a method of assessing the outcomes of a company's financial structure. It is an abbreviation for the aspects taken into account in the approach: flexibility, risk, income, control, and timing.
TIW Private Equity, located in New Delhi, is a SME-focused, sector-agnostic buyout private equity firm. Mahesh Bhupathi's D2C cosmetics and wellness firm Scentials received over $6 million in investment from TIW Private Equity in February of this year (TIW PE).
The garment business has seen an increase in fund flow, with sector participants shifting their focus to the direct-to-consumer (D2C) area. Surat-based men's clothing business XYXX secured INR 30 Cr in Series A investment in July from DSG Consumer Partners and Synergy Capital Partners, with participation from current investor Sauce.vc.
Bewakoof, a Mumbai-based D2C fashion firm that specialises in self-expression items, secured INR 60 Cr in its Pre-Series B round in August, driven by current investor InvestCorp.
Investors are also paying close attention to the fashion D2C market. As of April 2021, the category had raised the highest capital in India, $756 million, out of all D2C divisions, and the surge had attracted hundreds of startups.
StyleCracker, Zivame, Chumbak, Pretty Secrets, Azani, Anouk, FabAlley, Fable Street, The Souled Store, Wrogn, Clovia, Andamen, XYXX, Almo Man, Bombay Shirt Company, Damench, and others are also in the fashion D2C arena.
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