Bewakoof raises Rs. 60 Crore in funding led by InvestCorp

Bewakoof cofounder
Bewakoof cofounder

Bewakoof, a D2C fashion company, is aiming to develop sportswear and innerwear, as well as expand its recently launched cosmetics brand Cosmos.

Bewakoof, a D2C apparel company, announced on Wednesday that it has secured Rs 60 crore in a new round backed by InvestCorp. Spring Marketing Capital and IvyCap Ventures also invested in the round. The firm has raised a total of Rs 170 crore to date, including this round.

Bewakoof, founded in 2012 by Prabhkiran Singh, is a social media-driven fashion business using content marketing as a primary development strategy. It intends to spend in marketing, branding, technology, and talent management to expedite its future growth.

The brand has 4.5 million Facebook fans and 1.5 million Instagram followers. By 2025, the firm promises to have generated Rs 2,000 crore in revenue.

The business is famous for its casual wear, and it has lately added Indo-fusion ethnic and nightwear to its catalogue, as well as several partnerships with Marvel, DC Comics, Looney Tunes, Star Wars, F.R.I.E.N.D.S., and Disney.

“Bewakoof has evolved as India’s biggest D2C fashion brand,” stated Prabhkiran Singh, Founder and CEO of Bewakoof, in response to the news. This expansion has been fueled by the introduction of new categories and an exclusive fashion line with Coca-Cola. We are making preparations to introduce the brand to an untapped new client base with the new cash-raising, which will be accessible through mass media such as TV and print ads.”

Bewakoof funding and celebrities

Bewakoof, which has launched celebrity-led digital ads with Rajkummar Rao, Sanya Malhotra, and Farhan Akhtar, is looking to bring on more A-list stars to create high-decibel advertising campaigns across digital, OOH, and TV.

On the technological front, the company plans to introduce a gamification-driven loyalty programme as part of its Bewakoof Tribe update, which will include new and exclusive releases for club members.

“Bewakoof has shown the tenacity and fortitude to manage through the COVID-19 issue and achieved a result, which reflects the quality of the platform and the management team,” said Gaurav Sharma, Partner, Head of Private Equity, InvestCorp. It has put in place a motivated workforce and other key components to achieve rapid growth by innovating and realigning the business with new objectives. We’re thrilled to continue to support them as the Bewakoof brand expands into new territory.”

 

“Innovation is at the centre of Bewakoof, spanning designs, marketing, and strategic initiatives,” said Vikram Gupta, Founder and Managing Partner, IvyCap. Over the last few years, the brand has experienced considerable growth, fueled by improved operating efficiencies and a loyal consumer base. We’re pleased to continue working with the firm and Prabhkiran on this next phase of growth.”