Bewakoof.com, India’s leading D2C fashion brand, has raised Rs. 60 crore in the latest round led by InvestCorp. Notably, IvyCap and Spring Marketing Capital also participated in the round. The brand, including this round, has so far raised Rs. 170 crore.
In a statement, the e-commerce giant informed that the funds will be used for scaling up the business, marketing, technology and talent acquisition.
This funding will support the company to fast track to clocking Rs. 2,000 crore in sales by 2025.
Bewakoof, which recently rolled out celebrity-led digital campaigns with Rajkummar Rao, Sanya Malhotra and Farhan Akhtar, plans to further build by signing other A-list celebrities to launch high decibel marketing campaigns across digital, OOH and TV.
On the technology front, the company intends to launch a gamification-led loyalty programme as it upgrades its Bewakoof Tribe by new and exclusive launches for the club members.
Also Read: Bewakoof.com announces Badera collection – A respectful ode to original art and craftsmanship
Prabhkiran Singh, Founder and CEO, Bewakoof, says, “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.”
Gaurav Sharma, Partner, Head of Private Equity, InvestCorp says, “Bewakoof has demonstrated the grit and resilience to navigate through the Covid crisis and delivered a performance which speaks to the strength of the platform and the management team. It 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.”
As Bewakoof scales up across categories, it is also planning to launch new categories like activewear and innerwear in addition to scaling up newly launched beauty brand Cosmos.
