Bewakoof has experienced two rounds of funding so far—Rs 80 crore in October 2019 from Bahrain-dependent option asset manager Investcorp, and Rs eight crore in May 2020 in a bridge round from community buyers Pranak Consultants, Pratithi Investment and Indigoedge Administration.
Established in 2012 by Prabhkiran Singh and Siddharth Munot, Bewakoof sells above 20,000 units of clothing and extras a working day. It has a customer base of above 10 million, most of whom are millennials dependent in Tier I, II and III towns, the corporation reported.
The corporation clocked revenues of a lot more than Rs 200 crore in 2018-19, a rarity among the immediate-to-customer (D2C) style brand names, a area which is dominated by Myntra with a business of all over Rs 400 crore.
Bewakoof’s gross sales were being poorly impacted because of to the lockdown in the early months of the Covid-19 pandemic and are most likely to be thirty-35% decrease in 2020-21 as as opposed to the preceding fiscal, the corporation reported in a push launch. But with expanding on line adoption following the pandemic, and India’s center profits group expanding its discretionary spend, D2C brand names are most likely to see a surge—especially at the decrease conclusion of the branded current market.