Companies

Men’s label XYXX raises ₹30 crore in Series-A round

Our Bureau New Delhi | Updated on June 16, 2021

Plans 15,000 retail points across the country in the next 12 months

Millennial-focused men’s label XYXX has raised ₹30 crore in its Series-A funding round which was backed by DSG Consumer Partners, Synergy Capital Partners and existing investor Sauce.VC.

The brand’s product portfolio comprises collections in men’s innerwear and loungewear segments. It is sold across 6,000 offline outlets, all major e-commerce platforms and through the brand’s own D2C site.

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To boost physical presence

Yogesh Kabra, Founder, XYXX, says, “We are looking forward to building our brand narrative and community on the tenets of clarity, trust and conversation. In the last year itself, we have witnessed tremendous growth of over 300 per cent as compared to pre-pandemic levels. Since we’re currently at a high-growth stage in our journey as a brand, we aim to use resources to expand our product portfolio, strengthen our retail presence and build brand awareness. We aim to strengthen our physical presence in the country and have up to 15,000 retail points across the country in the next 12 months”.

‘Unique brand’

Manu Chandra from Sauce.VC added, “XYXX has consistently kept a razor-sharp focus on innovation and consumer insight which has not only helped them create a stir in the market but also firmly established them as a force to reckon with in the segment — all within four short years since their inception.”

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Stating that the innerwear segment is expected to cross the ₹21,000-crore mark by 2028, Hariharan Premkumar from DSG Consumer Partners said, “The innerwear segment is one of the fastest growing fashion categories in the Indian subcontinent. XYXX is a unique brand with a differentiated offering best suited to capitalise on this massive opportunity.”

Published on June 16, 2021

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