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XYXX Innerwear raises seed round from Sauce.vc

Mar '19
XYXX Apparels Pvt Ltd, the parent company of XYXX Innerwear brand, a premium men’s innerwear and loungewear brand, has raised a first round of seed funding from Sauce.vc, an early stage consumer focused venture capital fund. Govind Shrikhande, ex-MD of Shoppers Stop and advisory board member of Sauce.vc, has joined XYXX as a senior advisor.

"We are proud to back XYXX and Yogesh. We believe there is tremendous potential for a premium innerwear brand that can offer better quality at affordable prices in the growing mass premium segment. Omni channel distribution presence and supply chain management will be the key strengths this team will build on," Manu Chandra, managing partner, Sauce.vc said in a press release.

"XYXX stands for fun and choice for the next generation consumer. We are offering a wide portfolio of innerwear and loungewear products made from modern fabrics in a variety of appealing designs and prints targeting the modern Indian male. I am happy to have found the right partners to take this journey a step ahead. It has been a pleasure to work with Manu and Shrikhande over the last few months. We are benefiting immensely from their deep understanding and experience in the space. I look forward to formally having them on board as investor and advisor and to make XYXX a successful premium brand in the innerwear and loungewear category, with a sharp focus on premium quality and affordability," Yogesh Kabra, founder & CEO, XYXX Apparels Pvt Ltd said.

"I am very happy to partner with a young challenger brand like XYXX. The innerwear category is ripe for disruption by new home-grown brands. Yogesh and team are building a sound and scalable business with a deep understanding of textile and apparel manufacturing and supply chain. I look forward to contributing in this journey," Shrikhande said. (RR)

Fibre2Fashion News Desk – India

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