India, September 5th, 2019: In the pre-series A round of funding, XYXX Apparels Pvt Ltd., a premium brand for men’s innerwear, has raised INR 6 Crores from Sauce.vc, a consumer-focused venture capital fund. XYXX intends to use the raised capital to amplify its sales and advertising efforts aggressively. They will also focus on expanding and accelerating product development.
Founded by Yogesh Kabra, XYXX is a new age premium class of young, refined and irreverent comfortable wear with an independent streak at an accessible price point. A variety of products are available for the products-trunks, briefs, boxers, jocks, vests, pajamas and men’s t-shirts. At a price level that playing an important market, XYXX provides the greatest value for money offer.
XYXX has also invested in the implementation of SAP and has helped a big four to streamline their processes. In addition, the company moved to Mumbai lately while keeping Surat as its production hub. This allowed them to build a strong marketing team-for brand as well as for performance for top skills such as Govind Shrikhande, ex-MD of Shoppers Stop.
“XYXX is really thrilled by our investor’s belief that it is our mission to grow and provide comfort and fun for clients across India. We want to present XYXX as a brand, as a fun, sophisticated and yet comfortable aspect, with distinctive propositions to offer. This Sauce.vc investment takes us in this direction and brings us closer to our objective that everyone can experiment with our brand and test it. The investment will also assist us to expand on new markets quickly.” said Yogesh Kabra, Founder of XYXX Apparels Pvt Ltd.
“XYXX is fivefold in as many months, and has boosted our projections, also with greater capital efficiency and better margins than industry. Therefore the high quality of a product is always going to generate new ones which ultimately build viable and scalable brands at the correct cost. We now have a top team in place and a significant investment in back-end systems, all of which we have to scale to the next level. Growth is driven by an exciting new product and category pipeline that opens up new geographies and new channels in India. In the next two quarters, some deep brand initiatives will also be implemented. We are very pleased that our first portfolio company in the Fund is continuing to achieve success.” said Manu Chandra, Founder & Managing Director, Sauce.vc.
Submitted by PR Agency
