Fashion – Scoopearth: Leading platform for startups & business news https://www.scoopearth.com Embrace the World of Start-ups, Technology, Business, Finance and Economy Sat, 04 Jan 2025 13:14:10 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://www.scoopearth.com/wp-content/uploads/2023/11/cropped-favicon-sc-96x96.png Fashion – Scoopearth: Leading platform for startups & business news https://www.scoopearth.com 32 32 D2C fashion brand Zouk raised $10 million in its series B funding round from Aavishkaar Capital and others https://www.scoopearth.com/d2c-fashion-brand-zouk-raised-10-million-in-its-series-b-funding-round-from-aavishkaar-capital-and-others/ Tue, 22 Oct 2024 13:38:40 +0000 https://www.scoopearth.com/?p=345822 Zouk is a D2C fashion and lifestyle brand that offers shoes, footwear, and handcrafted bags. The startup secured 10 million USD from Aavishkar Capital in its ongoing series B funding round. The funding saw the participation of several new and existing investors including Totan Capital, JJ Family Office, Stellaris Venture Partners, and Sharp Ventures.

The startup offers an online platform offering products including laptop bags, backpacks, and handbags. The company plans to use these fresh proceeds to scale its operations, enhance its manufacturing capability, and develop its market presence.

The startup also intends to use some of this investment to strengthen its supply chain and expand its offline brand presence. inc42 reported. This funding round came after 18 months for the company. The company will invest in the new funding round along with existing investor Stellaris Venture.

Aavishkaar Capital previously invested in Agrostar, GoDesi, Milk Mantra, Altum Credo, and Ergos. This D2C lifestyle brand provides various products including travel pouches, backpacks, and footwear. The company also offers footwear, travel pouches, and other products. The startup aims to use this investment and expand its offline presence.

The company claims to provide handmade products made of silk, khadi, ikat, and jute. Zouk majorly provides deals in laptops, chain wallets, and tote handbags. The startup raised 14.5 million USD across multiple funding rounds since its inception, including $8.5 million secured from Stellaris Venture Partner during its series B funding round.

The startup also raised $3 million from Stellaris Ventures, in its series A round led by Sharrp Ventures, and other investors. The company intends to strengthen its quick-commerce presence and improve its production capability. The startup data intelligence platform, tracxn mentioned the post-money valuation of Zouk to be around 49.3 million USD during its last funding round.

The Mumbai-based startup claims to have a customer base of more than 700,000 customers across India. The company posted a revenue from operations of Rs 47.41 crore in FY23. However, the losses stood at Rs 10.55 crore in the same duration.

The existing investor Stellaris Ventures remains the largest external stakeholder of the firm with a 19.63 percent stake followed by its founders holding 31 percent of the company’s share after the last funding round. The D2C lifestyle brand faces competition from other companies in the same market segment such as Maisha Lifestyle, and Strutt.

Conclusion :

Internet-first D2C lifestyle brand, Zouk raised 10 million USD million in its series B funding round from the Aavishkaar Capital. Aavishkaar Capital led the round with the participation of Stellaris venture partners, Sharrp Ventures, Titan Capital, and the JJ family office.

The startup plans to use this fresh capital to scale its operations, improve its supply chain, and develop its offline brand presence. The existing investor Stellaris Ventures remained the largest external stakeholder of the firm. The company provides handmade products made of fabrics such as silk, khadi, and jute. The development came just after the D2C lifestyle sector saw increased investor interest. 

]]> Virat Kohli-backed men’s wear startup WROGN secured $9 million in its fresh funding round from Aditya Birla Digital Fashion https://www.scoopearth.com/virat-kohli-backed-mens-wear-startup-wrogn-secured-9-million-in-its-fresh-funding-round-from-aditya-birla-digital-fashion/ Thu, 17 Oct 2024 11:18:11 +0000 https://www.scoopearth.com/?p=345776 WROGN is a D2C men’s wear fashion startup backed by the Indian cricketer Virat Kohli. The company provides an online platform for affordable clothing and accessories. The men’s wear startup secured 9 million USD from Aditya Birla Digital Fashion Ventures Ltd in its ongoing funding round.

The company mentioned in an exchange filing that after this funding round, the firm’s stake increased in WROGN to 32.84 percent on a fully diluted basis. 

The startup plans to use these fresh proceeds to scale its operations, enhance its platform, expand its services, and develop a market presence. The D2C fashion brand has a product portfolio including apparel, footwear, and accessories.

The development came just after the company raised Rs 125 crore from TMRW House of Brands. The investment provided 16 percent of the firm’s stake to TMRW and valued the company at 105 million USD. TMRW is a company under the Aditya Birla Group that is currently an investor in eight Indian fashionwear brands including The Indian Garage Co, JuneBerrry, and Verido.

This fashion brand claims to offer products in various categories from casual wear to footwear. The firm received interest from the general public and investors with cricketer Virat Kohli’s influence. The firm earns income through convenience fees raised from deliveries, designing, and selling the products. The startup has raised over $90 million across all its equity and debt funding rounds since its inception, including the funding round led by Flipkart during its series F funding round. 

The D2C fashion startup posted a 29.2 percent decrease in its operational revenue to Rs 243.75 crore in FY24. However, the net loss also increased by 28.2 percent and stood at Rs 56.76 crore in the same duration. The decline in sales added to the increased net loss. The company plans to control its losses by reducing its operating expenses and employee benefits. The development came just when the D2C market segment saw increased investor interest. 

The data intelligence platform, thekredible mentioned that the D2C fashion sector is expected to cross $43.2 billion by the end of next year. The D2C brand offers an online shopping platform for casual wear, apparel, accessories, and footwear with the best shopping experience.  Wrogn receives investments from Accel, Sachin Tendulkar, Virat Kohli, and Flipkart.  The company faces competition from D2C fashion brands such as TCNS clothing, Snapdeal, and HRX.

Conclusion :

The D2C fashion startup WROGN secured Rs 75 crore in its fresh funding round led by Aditya Biral Digital Fashion Ventures Ltd. Wrogn offers an online marketplace and offline stores for men’s clothing, apparel, accessories, and accessories. This new investment from Aditya Birla Digital Fashion Ventures helped the firm to increase its stake to 32 percent in the Wrogn.

The D2C fashion sector is expected to grow and reach the 43.2 billion USD mark by 2025. The brand used Virat Kohli’s influence to expand its reach and partnerships with major e-commerce platforms like Flipkart.

]]> D2C fashion startup Zouk to raise $10 million in its new funding round from Aavishkaar Capital https://www.scoopearth.com/d2c-fashion-startup-zouk-to-raise-10-million-in-its-new-funding-round-from-aavishkaar-capital/ Mon, 07 Oct 2024 11:16:19 +0000 https://www.scoopearth.com/?p=345667 Zouk is a D2C fashion brand that offers shoes and handcrafted bags. The startup announced its plans to secure 10 million USD in its fresh funding round from Aavishkaar Capital. The funding round expects to have the participation of several new and existing investors including Stellaris Venture Partners. 

The startup provides products including laptop bags, backpacks, and handbags. The company plans to use these fresh proceeds to scale its operations, enhance its platform, improve its manufacturing capability, and develop its market presence.

The new round will happen after 18 months for the company offering cruelty-free products. The source close to the development told entrackr, that Aavishkaar Capital has already signed a deal with issue term sheets and has completed the due diligence, The company will invest in the new funding round along with existing investor Stellaris Venture. Aavishkaar Capital has already invested in Agrostar, GoDesi, Milk Mantra, Altum Credo, and Ergos.

This online bags and shoes brand provides various products including travel pouches, backpacks, and footwear. The company also offers waterproof bags designed for critical weather conditions. The startup aims to use this investment and expand its brand presence.

The company claims to provide handmade products with 100 percent vegan leather manufactured and sourced in India. Zouk majorly provides deals in laptops, chain wallets, and tote handbags. The startup raised 4.5 million USD across multiple funding rounds since its inception, including $1.5 million secured from Stellaris during the pre-series A funding round.

The startup also raised $3 million from Stellaris Ventures, Sharrp Ventures, and others during its series A funding round in 2023. The company intends to strengthen its quick-commerce presence and increase its product capability. The startup data intelligence platform, thekredible mentioned the valuation of Zouk to be around 7 million USD during its last funding round.

The Mumbai-based startup reported a revenue of Rs 47.41 crore in FY23. However, the losses increased to Rs 10.55 crore in the same duration. The startup data intelligence platform, thekredible mentioned that the existing investor Stellaris Ventures remains the largest external stakeholder of the firm with a 19.63 percent stake while the founders Krishnakuma and Sigh account for 31 percent of the company’s share after the last funding round. Zouk is predicted to reach a valuation of Rs 400 crore after the new funding round. The fashion brand faces competition from companies like Maisha Lifestyle, Pabiben, and Strutt.

Conclusion :

Internet-first D2C fashion startup, Zouk to raise 10 million USD million in its new funding round from the Aavishkaar Capital. The startup plans to use this fresh capital to scale its operations, improve its performing capability, and develop its market presence. The existing investor Stellaris Ventures is also expected to participate in this funding round along with other investors.

The company provides handmade products made of 100 percent vegan leather and fabrics such as silk, khadi, and jute. The development came just after the D2C sector saw increased investor interest. The company competes with other D2C companies offering handmade bags and fashion products including Strutt, and Maisha Lifestyle.

]]> Virat Kohli-backed men’s wear startup WROGN reported a revenue of Rs 243.75 crore with a 28.2 percent increase in loss in FY24. https://www.scoopearth.com/virat-kohli-backed-mens-wear-startup-wrogn-reported-a-revenue-of-rs-243-75-crore-with-a-28-2-percent-increase-in-loss-in-fy24/ Fri, 13 Sep 2024 08:01:28 +0000 https://www.scoopearth.com/?p=344640 WROGN is a D2C men’s wear fashion startup that offers affordable clothing and accessories. The platform offering men’s wear announced a 29.2 percent decrease in its revenue to Rs 243.75 crore in FY24. The company saw a 28.2 percent increase in loss to Rs 56.76 crore in the same duration. The startup also provides products such as apparel, footwear, and accessories. The sales of these products are the company’s primary source of revenue. 

Entrackr mentioned in its report that the firm also earned Rs 21 crore through interest and gain on financial assets. This fashion company offers various products from casual wear to footwear. The firm has developed a strong market presence with cricketer Virat Kohli’s influence. The firm earns revenue through convenience fees raised from deliveries, designing, and selling the products. The financial sources provide Rs 21 crore and make the total income to cross Rs 264.8 crore in FY24. in the Q1 FY25. The company previously secured has raised around $90 million across all its equity and debt funding rounds since its inception. This includes the amount raised from Flipkart during its series F funding round. 

Wrogn offers an online shopping platform with the best shopping experience. The legal, business sourcing, marketing, hosting, and other expenses decreased for this fiscal year. However, 53.6 percent of the total expenditure goes to the cost of materials. The total expenditure of the firm increased by 24.7 percent to Rs 305.56 crore in FY24. Meanwhile, the employee benefits saw a 7.5 percent decrease to Rs 32.36 crore in the same duration. The employee cost also includes the expanded ESOP worth Rs 1.96 crore. The company faces competition from other men’s wear and accessories providers such as TCNS clothing, Flipkart, Snapdeal, and Monrow.

The fashion brand saw a 63 percent increase in the operating cash outflows to Rs 5.23 crore in FY24. The firm plans to improve its business model while offering innovative solutions, and solidify its position well in the global market. The company plans to control its losses by reducing its operating expenses and employee benefits. The EBITDA margin also increased to -6.04 percent while the ROCE stood at -72.07 percent. The data intelligence platform, thekredible mentioned that the D2C fashion sector is expected to reach $43.2 billion by 2025. 

Conclusion :

The D2C fashion startup WROGN announced a 29.2 percent decrease in its revenue to Rs 243.75 crore in FY24. Entrackr reported. This fashion brand offers an online marketplace for men’s clothing and accessories. The sale of these products and interest and gain on financial assets are the major sources of the company’s revenue. The company also posted a 28.2 percent increase in net loss for FY24. The total expenditure of the firm decreased by 24.7 percent and crossed Rs 305.56 crore in the same duration. Thekredible mentioned that the D2C fashion market is expected to grow and cross the 43.2 billion USD mark by next year. Worgn competes with TCNS Clothing, Snapdeal, and others.

]]> Baazar Style Retail Raises Rs 250 Cr from Anchor Investors Ahead of IPO https://www.scoopearth.com/baazar-style-retail-raises-rs-250-cr-from-anchor-investors-ahead-of-ipo/ Fri, 30 Aug 2024 09:32:37 +0000 https://www.scoopearth.com/?p=344319 Baazar Style Retail Ltd, a value fashion retail company, that is already on the list of initial public offerings, has attracted Rs 250 crore through anchor investors. This tactic indicates the company is well-positioned in the market has impressive growth prospects and already enjoys considerable attention from prominent investors. 

Funding Details and IPO

On 29 th Aug 2024, Baazar Style Retail informed that it had finalized Rs 250 crore from anchor investors one day before its IPO was opened to the masses. The company allocated 64.29 lakh equity shares to 28 funds at Rs 389 each thus taking the overall deal size to Rs 250.1 crore. Top investors that participated in raising this amount of funds include HSBC Global Investment Funds, HDFC Mutual Fund, Allianz Global Investors Fund, and Bajaj Allianz Life Insurance Company.

The IPO, which is set for August 30 and ends on Sep 3, 2024, is a mix of a fundraiser of Rs 148 crore through the issue of fresh equity, OFS up to 1.76 crore shares, priced at the upper end of the B band at Rs 687 crore. The price has also been fixed at a price band of Rs 370-389 for the portion offered through the IPO.

The majority of the amount generated from the fresh issue shall be directed towards repaying debts and for this, approximately Rs 146 crore. The rest of the money will be directed toward other uses for the company’s business and operations. It is believed that this rational distribution of the funds will improve the company’s financial situation and help in its growth.

Market Position 

Baazar Style Retail Private Limited is one of the emerging companies in the value retail segment, especially in West Bengal and Odisha. The company also has a considerable market in other focus states of India such as Assam, Bihar, Jharkhand, Andhra Pradesh, Tripura, Uttar Pradesh, and Chhattisgarh. The current consolidated revenue from operations of the selected mining and metals firms is Rs 972.88 crore and a profit after tax of Rs 21.94 crore in FY24, the Baazar Style Retail has depicted continuous growth and profitability from the initial years of its establishment.

Strategic Investment

High-profile individuals investing in the company substantiate the confidence investors place in Baazar Style Retailz’s business model as well as growth prospects. Some of the investors who are exiting through the OFS include Rekha Jhunjhunwala, Intensive Softshare Pvt Ltd, and Intensive Finance Pvt Ltd. It is also not only a good move in that it offers liquidity to current investors but also aids in the introduction of new capital for existing business endeavors.

Earlier this month, new generation men’s wear retail store, Baazar Style Retail floated Rs 37 crore from Volrado Ventures Partners Fund II through pre-IPO placement. This increased access to capital has also helped the company to further strengthen is balance sheet, which has helped itfloat the amount it needs from the fresh issue and pursue optimal capital investments. 

Conclusion

The fundraising by Baazar Style Retail from anchor investors before its IPO is a major development in the corporate journey of the firm. The capability of mobilizing Rs 250 crore from eminent investors establishes enormous confidence in the business model in addition to growth potential. 

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