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Investcorp leads $11.2 mn investment in Bewakoof Brands

Oct '19
Pic: Investcorp
Pic: Investcorp
Global alternative asset manager Investcorp, has led a $11.2 million investment in Bewakoof Brands Pvt Ltd. Bewakoof is one of the leading direct to consumer online apparel companies in India focused on providing creative and distinctive fashion at affordable prices for trendy and contemporary Indians. IndigoEdge was the advisor to Bewakoof for the deal.

Bewakoof was founded by Prabhkiran Singh and Siddharth Munot in 2011. Since inception, it has created fashion which resonates with millennials across India and has been widely recognised for its unique designs. In a short period of time, it has created a robust brand offering by building strong capabilities in design, supply chain and a high engagement digital customer platform. This has led to delivering sales of more than 650,000 products per month with a customer base of over 4 million, often making repeat purchases.

"We are very pleased to have Investcorp on-board with us as we gear-up for the next exciting stage of our journey. At Bewakoof, the customer is at the centre of everything we do, and we remain committed to providing quality and creative fashion to the youth at an unmatched value. Having grown significantly in the last couple of years, we will continue investing in improving the customer experience through technological innovation and focusing on talent acquisition," said Prabhkiran Singh, co-founder and director of Bewakoof Brands.

"Bewakoof has an impressive team led by its founders Singh and Munot. They offer exceptional products, with a focus on innovation, affordability, capital efficiency and bottom-line contribution. All these factors make us believe that Bewakoof is a unique company amongst Indian digital consumer brands. We look forward to this partnership and towards seeking to crystallise the founders' vision to create a formidable Indian apparel brand."

Investcorp’s investment in Bewakoof is in line with their strategy to tap into sustainable business models in the mass consumption driven Indian market. Investcorp raised `1,000 crore in its maiden India-focused private equity fund. The new fund targets investment opportunities across three key sectors – mass-market consumer, financial services and healthcare. Other than Bewakoof, the fund has so far invested in four companies namely Incred, ASG, Zolo and Citykart.

Investcorp manages over $28 billion globally and at its core is a mid-market investment specialist. The private equity business of Investcorp has close to 40 years of mid-market investing experience across the North America, Europe and the MENA region with more than $36 billion of transaction value in almost 200 investments across retail, consumer products, technology, business services and industrials.

Fibre2Fashion News Desk (PC)

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