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Bengaluru-based yoga wear startup Proyog today said its products will be available across India on online retailer Myntra by August first week and is looking at going public on the New York Stock Exchange by 2021.
"We are tying up with online retailer Myntra. Our products - yoga wears - will be available across India on Myntra by July end or early August this year," one of the firm Co-Founders Dave Banerjee told PTI in an interview here.
Banerjee, a serial entrepreneur, co-founded the firm along with a former head of design at apparel company Levi Strauss, Malika Baruah along with her colleague Priyanktha Iyengar.
Sanjay Nayak, former India President of advertising firm McCann Erickson Worldwide, is Chief Executive Officer and one of the co-founders of the firm.
The tie-up with Myntra will give a major boost for the sales of Proyog yoga wears across India, Banerjee said. "The number of eyeballs Myntra grab is humongous. Certainly it will give a big boost to us and our products across India ... And I see it happening."
"Apart from Myntra, we are looking to tie up with other online retailers also. We are already in talks with Jabong and also talking to offline retailer - the Stopper's Stop."
The products for purchase in the US are available on Amazon, at proyog.Com and jabongworld.Com, he said.
About the firm's business vision, Banerjee said ."We are looking at six years horizon and we are looking at going public by June 21, 2021 on New York Stock Exchange - that is our business vision," Banerjee said.
Banerjee said over 200 million people around the world practice yoga and the estimated market for yoga apparel in the US alone is USD 26 billion (Rs 1,64,000 crore) annually.
"We will be very very aggressive. Our core market is not India because global market is US and Canada. If we want to be a global brand, first we have to focus on US and Canada, not domestic market," he said.
Banerjee said most of the apparel available in this space is largely sportswear in disguise and Proyog is aiming to fill the void of creating genuine yoga wears. "We have spent about two years developing the product," he added.
The firm is being backed by Naresh Malhotra, previously with Sequoia Capital, and Ajay Malhotra of VAMM Capital.
Proyog was globally launched on June 21, the International Yoga Day declared by the United Nations.
