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Snapdeal founders invest in apparel etailer Bewakoof.com
09
Jan '15
Rohit Bansal and Kunal Bahl, both founders of online marketplace Snapdeal.com, have invested an undisclosed amount in Mumbai-based online apparel retailer Bewakoof.com. Former IDFC Securities managing director Nikhil Vora has also invested in his personal capacity in the ecommerce retailer, according to media reports.
 
Founded by IIT Bombay alumni Prabhkiran Singh and Siddharth Munot in 2012, the apparel etailer describes itself as “the family of true insanity lovers who chuck, brag, make fun and finally go off to sleep.”
 
Bewakoof sells only through its website and shopping app, with mobile sales accounting for over half of the total sales.
 
In addition to selling apparel and accessories for guys and girls, the website also sells merchandise of Bollywood movies. It already has association with nine movies, including Sholay, Boss, Gunday, Bewakoofiyaan, and Gangs of Wasseypur.
 
Over the last six months, revenue of Bewakoof Brands, the company that runs the online portal Bewakoof.com, has increased by nearly three times and has reached Rs 1.5 crore per month.
 
The company now aims to take its annual revenue beyond US$ 100-mark in the next five to seven years, from the current Rs 20 crore per annum.
 
Bansal and Bahl have also invested in some other online portals like Gigstart, Tripoto, Ola Cabs, and Tiny Owl. (RKS)
 

Fibre2fashion News Desk - India


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