SUMMARY
With this investment, Rahul has also become an ambassador of XYXX
XYXX claims that its omnichannel approach has been pivotal to its success across Tier 1, 2 and 3 markets, resulting in an year-on-year growth of 100%
XYXX is also planning to scale up its physical presence to 19000 touchpoints by September 2022
Surat-based men’s apparel brand XYXX has raised an undisclosed amount of investment from Indian cricketer KL Rahul. With this investment, Rahul has also become an ambassador of XYXX.
According to the statement, XYXX is planning to strengthen its online presence and geographical expansion in previously untapped markets.
“I am excited to be a part of their journey as they continue to scale new heights. XYXX’s attention to detail, their ideology and ethos, all backed by innovation that shows in their exceptional product range – all speaks for itself and has been nothing short of extraordinary,” said Rahul.
Founded in 2016 by Yogesh Kabra, XYXX is a D2C brand that offers an array of men’s clothing including innerwear, loungewear and athleisure. It claims to sell products through its website as well as 14 other online marketplaces including Amazon India, Flipkart, Ajio and Myntra, among others.
XYXX further claims that its omnichannel approach has been pivotal to its success across Tier 1, 2 and 3 markets, resulting in an year-on-year growth of 100%. It is also planning to scale up its physical presence to 19000 touchpoints by September 2022.
In June 2021, XYXX raised INR 30 Cr as a part of its Series A funding from DSG Consumer Partners and Synergy Capital Partners along with participation from existing investor Sauce.vc.
Previously, it had raised INR 6 Cr in Pre-Series A funding round from Sauce.vc in 2019.
According to a Statista report, the Indian men’s apparel industry is estimated to be about INR 3.3 Tn by 2028.
Recently, men’s clothing D2C brand DaMENSCH raised $16.4 Mn in a Series B funding round led by A91 Partners. The round saw participation from its existing investors such as Matrix Partners, Whiteboard Venture Partners, and Saama Capital.
In December 2021, Huechem Textiles Private Limited (HTPL) received an investment of INR 30 Cr from TIW India Buyout Fund (TIW Private Equity) in an equity round. With the funding from TIW, Huechel focused on extending its product categories, building new channels and entering new geographies, said Vineet Mehra, Director, Huechem.
