Brandis raises INR 70 cr from Peepul
Brandis Manufacturing and Marketing Private Limited, a fast emerging player in the lingerie and the men active-wear segment, on Thursday announced the successful conclusion of a fund raise of up to INR 70 crores, in multiple tranches, with Institutional Investor Peepul Capital Fund III LLC as the sole investor.
Brandis Manufacturing and Marketing Private Limited is in the process of building national presence in the lingerie and the men active-wear segments through its brands BEYOUTY and 2GO respectively.
The women apparel market in India is INR 72,050 crores and the lingerie market contributes to 10.83 pc of the total women apparel market in India.
The highly fragmented lingerie market is pegged at INR 7,800 crores growing at 12pc per annum, with very few consolidated brands.
"There is a huge gap in the expectations of women consumers and the brand offerings in the segment. Brandis aims to narrow this gap and climb up the brand preference ladder of the woman consumer through its brand BEYOUTY," said Nischal Puri, MD, Brandis Manufacturing and Marketing Private Limited.
2GO, the second brand owned by Brandis offers a range of men's active-wear.
The Indian consumer buys INR 3000 crores worth of active wear in a year and the segment is growing at a healthy rate of 22pc per annum.
"India with a high percentage of youth consumers who are fashion and fitness conscious is an extremely lucrative market for active wear. 2GO aims to be the preferred brand in this category," said Puri.
Brandis addresses a market of INR 8,500 crores between BEYOUTY and 2 GO.
Brandis will use the money to expand its operations, establish its production facilities and build its brands.