D2C fashion firm Bewakoof raises Rs 60 cr in pre Series-B funding

Round was led by InvestCorp with participation from IvyCap Ventures and Spring Marketing Capital; with this the firm has so far raised Rs 170 cr

D2C fashion brand Bewakoof.com raised Rs 60 crore in a pre Series-B round led by InvestCorp, and with participation from IvyCap Ventures and Spring Marketing Capital. The Company has so far raised Rs 170 crore including this round.

With this fund raise the company is planning to accelerate its growth trajectory by investing in marketing, branding, technology and talent acquisition. It aims to  clock 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 (Toofaan) plans to further build by signing other A-list celebrities to launch high decibel marketing campaigns across digital, OOH and TV. On the technology side, the company intends to launch a gamification led loyalty program as it upgrades its Bewakoof Tribe by new and exclusive launches for the club members.

Prabhkiran Singh, Founder and CEO, Bewakoof, says, “Bewakoof has emerged as the largest D2C fashion brand in India, this growth has come on the back of rolling out new categories, exclusive fashion range with brands like Coca Cola. 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.”

Bewakoof, which has served 6 million customers till date, continues to add over one lakh new customers every month. The company is also planning to increase benefits for the Tribe members as it aims to add 1 million subscribers in the next 2 years from the current 1,50,000, by launching exclusive collections and giving early access to the Tribe members.

Gaurav Sharma, Partner, Head of Private Equity, InvestCorp says, “Bewakoof 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, the company is also planning to launch new categories like activewear and innerwear in addition to scaling up newly launched beauty brand Cosmos.

Vikram Gupta, Founder and Managing Partner, IvyCap, says, “Innovation is at the core of Bewakoof, across designs, marketing and growth strategies. The brand has demonstrated significant growth over the past few years, backed by increasing operational efficiencies and a strong customer following. We remain excited to partner with the Company and Prabhkiran in this next leg of expansion."